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Supreme Ventures rakes in net profits of $776.1 million for June quarter

 
Supreme Ventures Group is reporting net profits of $776.1 million for the quarter ending June 30. 
 
This is 63.3 per cent higher than the $475.3 million recorded during the similar period last year.
 
The company's board says the improved performance was driven by a $1.16 billion increase in gaming revenues, while operating expenses remained relatively unchanged thanks to its cost-containment programme. 
 
But net profits after tax for the first six months of this year totalled $1.29 billion or 3.8 per cent lower than the amount earned last year. 
 
The group notes that when last year's provisions and unrealised losses on shares are excluded, this year's performance is actually 30 per cent better, as core gaming revenue rose by $295.3 million or 4.9 per cent to $6.36 billion. 
 
The board has declared a dividend of 27 cents per share, and contributions to the government during the June quarter amounted to $2.23 billion.


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