Svenska Spel has committed to a financial goal
Wednesday, May 2,2012 : SVENSKA SPEL SETS TARGETS
Fiscal target for the first time in its history
Swedish gaming monopoly Svenska Spel has committed to a financial goal for the first time in its history with a target set to achieve an operating margin of at least 22 percent over its fiscal business cycle.
"I think it is encouraging that we now have a financial goal to steer the company towards. Operating margin is a good measure of efficiency that gives a freedom to work with both revenues and costs over time, depending on market conditions and other external factors", said Svenska Spel chief executive officer Lennart Käll.
In related news, the firm announced the appointment of two new members to its Board, Cecilia Marlow and Frank Akerman – an economist and a pastor respectively.
"The motivation is to supplement the Board with two members with experience in retail and consumer sector and addiction issues. There will be a board together with relevant and extensive experience and high level of financial expertise, said Anitra Steen, chairman of Svenska Spel.