Friday 29 Mar 2024
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KUALA LUMPUR (Aug 18): Magnum Bhd's net profit for the second quarter ended June 30, 2022 (2QFY22) jumped to RM26.4 million, over 12 times the RM2.05 million it made in the same period last year, as it recorded better sales under its gaming division.

Revenue rose 47.68% to RM482.14 million from RM326.49 million, as gaming sales more than tripled to RM482 million from RM155.5 million, its bourse filing showed. Its previous year's performance was affected by the nationwide total lockdown that resulted in the cancellation of 15 draws in June 2021.

With the stronger quarterly earnings, the group's 2QFY22 earnings per share climbed to 1.84 sen from 0.14 sen. It declared a second interim dividend of 1.5 sen per share for FY22, to be payable on Sept 30.  

For the cumulative first six months of FY22, Magnum's net profit rose to RM43.06 million, over four times the RM9.57 million it made in the corresponding six months in FY21, as revenue climbed 38.4% to RM983.19 million from RM710.37 million.

Looking ahead, Magnum believes its gaming sales will continue to recover in the coming months, as the group takes steps to boost its sales via various campaigns.

Magnum shares slipped two sen or 1.19% to close at RM1.66 on Thursday (Aug 18), with a market capitalisation of RM2.39 billion.

Edited ByTan Choe Choe
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