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SJM Holdings reports 35% surge in Q3 net profit

Nov. 8, 2011 (China Knowledge) - SJM Holdings Ltd<0880>, the largest casino operator by revenue in Macau, announced yesterday that its net profit increased by 35.3% year on year to HK$1.17 billion in the third quarter of this year.

The company said in a statement that its gaming revenue surged 36.2% year on year to HK$19.06 billion in the three months ended Sep. 30, accounting for 28% of Macau's casino gaming market during the period. The ratio was 30.4% in the same period of 2010.

The company's flagship Casino Grand Lisboa saw its revenue soar 60.1% year on year to HK$5.83 billion in the third quarter, continuing to outperform the market.

In the first nine months of this year, the company's net profit swelled 57.7% year on year to HK$3.84 billion, and its gaming revenue rose 39.7% year on year to HK$56.59 billion.

The casino operator maintained a strong and liquid financial position, with HK$19.14 billion of cash and HK$3.33 billion at the end of the third quarter.

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