Lottotech, the operator of the Mauritius national lottery, has published its results for Q2 of 2021, revealing it has recorded a profit after making a loss in the same period last year.
The operator reported Q2 sales of MUR248.25m, an improvement of 216% compared to MUR78.33m in Q2 2020.
Profits jumped in a similar trend, rising from a loss of MUR15.59m last year to a profit of MUR18.56m.
Lottotech attributed the upwards trend to the reopening of the gaming industry and physical outlets compared to 2020, when the COVID-19 pandemic forced them to close down.
In a statement, the lottery said: “The increase in revenue and operating profit is mainly attributable to a five week period when the business was shut down due to Covid whereas the business was shut down for an 11 week period in 2020.”
“The result was 10 Lotto draws cancelled in 2021 compared to 23 Lotto draws in 2020.”
Despite the upturn in financial fortune for Lottotech, the Board of Directors were keen to remain cautious, aware that, with new variants of coronavirus spreading globally, its situation is still precarious.
The statement continued: “Covid-19 pandemic continues to pose a threat in Mauritius and to the business. Worldwide, the virus that causes Covid-19 is mutating constantly and new variants present new threats and are a constant cause of worry for Mauritius.
“Lottotech Ltd will continue to adopt all necessary measures to mitigate the downside financial risks caused by the pandemic while ensuring the safety of its employees, customers and partners.
“The company will have adequate funds to discharge any existing commitments and obligations. The board and management will continue to monitor the evolving uncertain market conditions.”