Supreme Ventures chairman Gary Peart
Supreme Ventures Limited indicates that cash holdings, which have almost doubled year-over-year, will be used to support the company’s acquisition goals.
The group generated positive cash flows from operations of $3.67 billion to close December 31, 2020, with a balance of $6.26 billion representing an increase of 74.13 per cent over the prior year.
In addition to cash provided by normal operations, the group increased third-party loans by $3.50 billion, primarily to assist in the funding of acquisitions.
With its financial year closed on December 31, 2020, SVL reported net profits of $2.42 billion, representing a decline of $52.69 million (two per cent less) over the prior year.
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