Societe des Bains de Mer de Monaco (SBM) posted a substantial net profit of 103.9 million euros for its 2023-24 financial year, up from a restated net profit of 67 million euros for the previous year.

Operating profit rose slightly to 73.6 million euros, with significant increases in the gaming and rental sectors more than offsetting the decline in the hotel sector, for total sales up 6% to 704 million.

SBM states that its business over the first two months of the new financial year is fully in line with that seen over the 2023-24 financial year, but that the uncertainty does not allow it to make forecasts for the full 2024-25 financial year.

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