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Friday, March 16, 2018

Berjaya Sports Toto 3Q net profit up 24%, pays 4 sen dividend

Ahmad Naqib Idris / theedgemarkets.com
March 16, 2018 18:32 pm +08

KUALA LUMPUR (March 16): Berjaya Sports Toto Bhd's (BToto) net profit rose 23.6% to RM59.23 million in the third financial quarter ended Jan 31, 2018 (3QFY18) from RM47.94 million a year ago, on improved performance achieved by Sports Toto Malaysia Sdn Bhd (Sports Toto) and H.R. Owen Plc.

This resulted in higher earnings per share of 4.4 sen in 3QFY18 compared with 3.56 sen in 3QFY17.

Quarterly revenue was also up 2.7% to RM1.4 billion from RM1.37 billion in 3QFY17, mainly attributed to higher revenue reported by H.R. Owen. This was partly offset by lower revenue from Sports Toto and Philippine Gaming Management Corp.

In a filing with Bursa Malaysia today, BToto said Sports Toto's pre-tax profit for 3QFY18 rose 19.6% year-on-year due to lower prize payout and operating expenses.

At the same time, H.R. Owen reported a pre-tax profit of RM10.1 million compared with a pre-tax loss of RM1.6 million in 3QFY17. The turnaround to profitability was mainly due to the higher revenue achieved from new and used car sales and the improved profit margin earned from certain used car sales, it added.

The group also declared a third interim dividend of 4 sen per share totalling RM53.9 million for the financial year ending April 30, 2018 (FY18), payable on May 3.

For the cumulative nine months (9MFY18), BToto's net profit grew 15.7% to RM195.28 million from RM168.83 million a year ago, while revenue came in largely flat at RM4.26 billion.

Going forward, BToto said the outlook for its number forecast operator (NFO) business will remain challenging with the continued rampant illegal gaming activities and weak consumer sentiments.

"However, the group is confident in maintaining its market share in the NFO business in the remaining quarter of FY18," it added.

BToto shares closed up 2 sen or 0.96% at RM2.10 today, giving it a market capitalisation of RM2.83 billion.

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