SJM Holdings Limited Announces Key Performance Indicators for Third Quarter 2010
SJM Holdings Limited Announces
Key Performance Indicators for Third Quarter 2010
Profit Increases 528%; Adjusted EBITDA Increases 135%
(Hong Kong, 8 November 2010)– SJM Holdings Limited (the "Company") today announced unaudited key performance indicators of the Company and its subsidiaries (collectively the "Group") for the three months ended 30 September 2010.
During the three months ended 30 September 2010, the Group's VIP gaming revenue was HK,375 million, an increase of 100% from HK,682 million in the third quarter of 2009, mass market gaming revenue was HK,296 million, an increase of 29% from HK,338 million, and slot machine revenue was HK6 million, an increase of 32% from HK0 million. The Group's total revenue during the third quarter of 2010 of HK,095 million (third quarter 2009: HK,339 million) included hotel, catering and related services revenue of HK8 million (third quarter 2009: HK million).
During the third quarter of 2010 the Group operated an average of 474 VIP gaming tables (third quarter 2009: 239), 1,274 mass market gaming tables (third quarter 2009: 1,185) and 4,370 slot machines (third quarter 2009: 4,039) (average of three month-end counts).
Total VIP chip sales for the Group during the three-month period were HK3.7 billion (third quarter 2009: HK0.7 billion), and the VIP gaming hold percentage (before commissions and discounts) was 2.90% (third quarter 2009: 2.46%).
During the three months ended 30 September 2010, the Grand Lisboa Hotel achieved average occupancy rate of 77.9% and average room rate of HK,889 per night.
Capital expenditure of the Group during the third quarter of 2010 was HK6 million, which was primarily for work on the upper floors of Grand Lisboa and equipment purchases.
Dr. Ambrose So, Chief Executive Officer of SJM Holdings Limited, commented, "The operating results of SJM Holdings for the third quarter of 2010 are very positive – in particular the increase of our net profit by 528% as compared to the year earlier quarter. We have also maintained the strength of our balance sheet, which positions us well for future expansion of our gaming and gaming-related businesses in Macau.
"For the year to date, SJM has outperformed the industry and gained market share in a highly competitive market. I am very pleased to note that this progress has continued through October, which was a record month in gaming revenue for SJM, and our market share increased further to over 32%."
Further information on SJM Holdings Limited can be found on www.sjmholdings.com.