Silver Heritage reports strongest quarter since IPO

Australia-listed Silver Heritage Group says it has recorded gross profit if US$5.1 million for the nine months year-to-date, up 20 percent over the same period in FY16.

The company reported its strongest operating quarter since its initial public offering in August 2016, with sales revenue reaching US$4.8 million in 17Q3.

Adjusted EBITDA was US$956,000, an increase of 61 percent over the average taken from the first two quarters of the year.

Cash on hand as at September 30, 2017 was US$13.3 million.

The company also noted its Tiger Palace resort in Nepal held its soft opening ahead of schedule in September, and is on budget and schedule for an end of November casino soft opening.