MBF Group
NewConnect-listed MBF Group S.A. has announced that it has received notification from a subsidiary regarding the sale of all of its subscribed shares in a gaming company and the closing of its investment.
According to the published report, total sales revenue amounted to PLN 1,504,867.45, resulting in a gross profit of PLN 1,244,867.45(return on sales was 478.80%). MBF Group holds 98.00% of the votes at the company’s shareholders’ meeting and share capital in the subsidiary.
“The Board of Directors of MBF Group S.A. considers it advisable to adopt the recommendation and vote in favor of paying from 75% to 100% of the net profit earned at the subsidiary for 2020 in the form of dividends.” – comments Janusz Czarnecki, President of the Management Board. “However, regardless of the above, all revenue and profit will remain in the MBF Group, which will have a powerful positive impact on the Issuer’s bottom line at the consolidated level for the fourth quarter and throughout 2020. In addition, you still have to keep in mind the current contracts and agreements we are executing.”
As it turns out, the success of the venture and the business relationships established open up the possibility for MBF Group S.A. and its subsidiary to participate in further similar ventures. “We will consistently pursue our strategy of building sustainable and diversified revenues, which is why we have already started discussions and negotiations today in the development of one of the development studios, which is working on several titles for phones and consoles. We are in the early stages of Pre-IPO, which, with success at the negotiating table, will give us the comfort of participating in the project at an attractive valuation. We will know the result of the talks as early as next week.”-. concludes the CEO.
MBF Group S.A. provides consulting services in business, marketing, finance, management and legal aspects to micro, small and medium-sized enterprises. Issuer supports enterprises in their market development by identifying effective solutions based on modern management tools
