Ray of winter sun for SBM

SBM published an optimistic 4th quarter 2010 report last week.

Good news for Monte Carlo SBM's shareholders was found in recently published financial results. October to December 2010 saw higher sales compared to the same period last year. The improved results are down to an increase in the gaming sector sales.

During the first 9 months of 2010, results showed a 10% loss compared to the previous year, with the gaming sector losing 2.4 m euros compared to a profit of 27.4 m euros in the same period 2009. However turnover in the final quarter was 70.9 m euros compared to 67.9 m euros last year. Gaming pulled in receipts of 39.7 m euros compared to 36.8 m in 4th quarter 2009, an increase of 4.4% thanks to table games, particularly European games. The hotel sector also saw a profit with increased frequency of 3% over the same period last year.

Unfortunately the results aren't enough to overcome the deficit of the first half of 2010.

SBM: gaming on the increase