Hong Kong-based Success Universe Group, a sports lottery sales agency to the Chinese market, posted a 420 percent increase in profit attributable to the company’s owners for the 12 months in 2014.
Success Universe, which operates lottery website 128cai. com, said its profit grew to HK$96.9 million ($12.5 million) in 2014 from HK$18.6 million the year before due to the performance of the company’s lottery business, which benefitted from the World Cup and the overall growth of China’s lottery market.
“[The] increase of approximately 420%…was mainly due to the improved performance of the Group’s lottery business and Ponte 16…”
The company said its positive results stand in contrast to the loss it suffered in 2013.
“Stimulated by the FIFA World Cup 2014, the Group’s lottery business achieved an encouraging result. Its revenue increased by approximately 185% year-on-year to approximately HK$201.1 million for 2014 and a segment profit of approximately HK$24.5 million for 2014 was recorded, representing a turnaround from a loss in 2013.”
Earnings per share for 2014 was 1.97 HK cents compared with 0.42 HK cents in 2013.
The company added that it has ventured into telephone agency sales services in the lucrative welfare lottery in Shanghai and Tianjin.
“The welfare lottery market is a bigger segment amounting to approximately RMB206.0 billion which accounted for approximately 54% of total China lottery sales in 2014.”
“With reference to our previous achievements in sports lottery, we are confident to replicate our success in sports lottery to the newly expanded welfare lottery.”