Friday 29 Mar 2024
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KUALA LUMPUR: Berjaya Sports Toto Bhd (BToto) saw its net profit jump 11.8% to RM77.51 million or 5.77 sen a share for its fourth financial quarter ended April 30, 2015 (4QFY15), from RM65.36 million or 5.25 sen a share a year ago, on higher contributions from its principal subsidiary Sports Toto Malaysia Sdn Bhd and  UK-based luxury car arm H R Owen plc.

Revenue also rose 7.6% to RM1.46 billion from RM1.36 billion for 4QFY14.

The number forecast operator told Bursa Malaysia that Sports Toto reported a 13.6% increase in pre-tax profit for 4QFY15 despite a drop in revenue of  4.1%, mainly due to lower prize payouts.

H R Owen also registered improved pre-tax profit and revenue of 8.5% and 31.5%, respectively, thanks to higher new car sales resulting from launches of new models by several manufacturers and higher used car sales in 4QFY15.

BToto (fundamental: 1.3; valuation: 2.1) also declared a fourth interim dividend of five sen per share amounting to RM67.2 million, payable on Aug 6.

For FY15, BToto's net profit rose 9.6% to RM360.15 million from RM328.71 million in FY14, mainly due to the refund of an RM18 million stamp duty paid following the rescission of a share purchase agreement, which resulted from the aborted listing of Sports Toto Malaysia Trust.

Revenue for FY15 grew 21.8% to RM5.29 billion from RM4.34 billion in FY14.

With the goods and services tax and rising costs weighing down  on consumer spending, BToto expects the  number forecast operation business to be challenging in FY16.

 

This article first appeared in The Edge Financial Daily, on June 19, 2015.

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