BToto Q1 rev­enue up 8%

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Ber­jaya Sports Toto Bhd (BToto) reg­is­tered an 8.2% in­crease in rev­enue to RM1.44 bil­lion in the first quar­ter ended July 31, 2016 (Q1) from RM1.33 bil­lion in the cor­re­spond­ing quar­ter of the pre­vi­ous fi­nan­cial year, mainly at­trib­uted to the re­sults of Sports Toto Malaysia Sdn Bhd and H.R. Owen Plc.

The group’s pre­tax profit dropped by 14.7% to RM96.4 mil­lion mainly due to the re­sults of H.R. Owen as well as the for­eign ex­change ef­fect recog­nised by a for­eign sub­sidiary com­pany dur­ing the cur­rent quar­ter but was par­tially off­set by the im­proved re­sults re­ported by Sports Toto, the prin­ci­pal sub­sidiary.

Sports Toto recorded an in­crease in rev­enue of 3.6%, at­trib­uted to the strong sales from the high jack­pot in the 4D Jack­pot game in the cur­rent quar­ter un­der re­view, and an in­crease of 7.5% in pre-tax profit, pri­mar­ily due to the lower prize pay­out in the cur­rent quar­ter un­der re­view.

H.R. Owen reg­is­tered an in­crease in rev­enue to RM626.1 mil­lion from RM532.9 mil­lion recorded in the pre­vi­ous year’s cor­re­spond­ing quar­ter, mainly due to higher rev­enue boosted by the higher sales vol­ume of new cars cou­pled with cer­tain new mod­els be­ing avail­able for sale dur­ing the cur­rent quar­ter. Pre-tax profit de­creased to RM6.9 mil­lion from RM10.9 mil­lion re­ported in the same pe­riod last year due to higher op­er­at­ing ex­penses in­curred in the cur­rent quar­ter un­der re­view.

The board has de­clared a first in­terim sin­gle-tier div­i­dend of 4 sen per share in re­spect of the fi­nan­cial year end­ing April 30, 2017 and payable on Oct 18, 2016. The en­ti­tle­ment date has been fixed on Oct 7, 2016. The first in­terim div­i­dend dis­tri­bu­tion for the fi­nan­cial year end­ing April 30, 2017 will amount to RM53.9 mil­lion rep­re­sent­ing about 91.8% of the at­trib­ut­able profit of the group for Q1.

BToto said the sub­dued eco­nomic cli­mate and ris­ing costs is ex­pected to con­tinue to dampen con­sumer spend­ing.

“The direc­tors ex­pect the num­ber fore­cast op­er­a­tor (NFO) busi­ness to be chal­leng­ing for the re­main­ing quar­ters of the fi­nan­cial year end­ing April 30, 2017 in view of the weaker con­sumer sentiment and in­creas­ing il­le­gal gam­ing ac­tiv­i­ties.”

In spite of the above, the direc­tors ex­pect the group to main­tain its mar­ket share in the NFO busi­ness.

On the op­er­a­tion of H.R. Owen, it said there is no im­me­di­ate ma­te­rial or no­tice­able im­pact on the lux­ury ve­hi­cles mar­ket re­sult­ing from the un­cer­tain­ties of Brexit as at to-date. How­ever, the direc­tors are cau­tious of the un­cer­tain­ties that may arise from the Brexit and the im­pact it may have on the mo­tor deal­er­ship seg­ment per­for­mance for the re­main­ing quar­ters of the fi­nan­cial year end­ing April 30, 2017.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.