We have extracted the financial summary from the full year abridged report of Lottotech Limited listed on the Stock Exchange of Mauritius under the share code LOTO.mu. Lottotech Limited is a Mauritian National Lottery company.
The following is an excerpt from the full year abridged report:
Turnover from lottery tickets for the year ended 31 December 2018 for the Group and Company amounted to MUR2,019.6m compared to the prior corresponding period turnover of MUR1,852.5m.For the year ended 31 December 2018, the Group and the Company reported net profit after tax of MUR109.9m and MUR111.3m respectively. The Company’s profit after income tax for the year ended 31 December 2017 was MUR110.8m.
Outcome of the Mediation Process
In June 2018, following the conclusion of the mediation between the Company, the Gambling Regulatory Authority (GRA) and the Ministry of Finance and Economic Development before the Supreme Court of Mauritius (Commercial Division), the Company informed its shareholders that:
The Company’s licence has been renewed until 2029;The Company has been granted approval to launch a second weekly draw of the Loto 6/40, and to launch a new game under the Loterie Vert brand.
The introduction of a Wednesday Loto draw from 05 September 2018 has resulted in a positive increase in gross ticket sales.
The fundamentals of the Group’s business remain strong. The introduction of the second weekly Loto draw (on Wednesdays) as from 05 September 2018 has had a positive impact on sales and profit. The introduction of the new Loterie Vert game in 2019 will further boost sales, and the contribution to the consolidated fund for good causes in Mauritius. The Group will continue to explore opportunities to diversify its product portfolio and services to continue to meet consumer expectations.
Lottotech Ltd will continue its efforts to make a difference and participate in our communities through its involvement in multiple projects to enhance the education of vulnerable groups and women entrepreneurs. The Group will strive to successfully be certified at the highest level of World Lottery Association(WLA) for Responsible Gaming.
The Group will continue to operate within its responsible gaming strategy. Our international experience lends itself to working closely with the GRA to develop an overall responsible gaming strategy and gaming alternatives in the regulated market.