Berjaya Land posts RM11.19m pre-tax profit for 2nd quarter

PETALING JAYA: Berjaya Land Bhd (BLand) saw a pre-tax profit of RM11.19 million in the second quarter ended Dec 31, 2019, mainly contributed by the gaming business segment.

Its revenue came in at RM1.53 billion, contributed by the gaming business segment operated by Sports Toto Malaysia Sdn Bhd from its strong 4D Jackpot sales, motor retailing business operated by HR Owen Ltd and the hotels and resorts business segment.

For the cumulative six months, the group reported a pre-tax profit and revenue of RM92.71 million and RM3.11 billion, respectively.

BLand said the Covid-19 outbreak has resulted in travel restrictions by certain countries and caused the fear of infection. Consequently, the group’s hotels and resorts business segment is directly and adversely impacted by this outbreak and this business segment’s performance is expected to be challenging in the subsequent quarters.

As for the gaming business, the results of the number forecast operation (NFO) business is expected to be better with the improving net revenue per draw.

The performance of the property development business segment is expected to remain satisfactory.

Meanwhile, Berjaya Assets Bhd (BAssets) reported a pre-tax profit of RM1.75 million for the second quarter ended Dec 31, 2019 against a pretax loss of RM1.06 million, due to higher share of results from joint venture and associated companies.

Its revenue slipped 6.9% to RM73.76 million from RM79.21 million, dragged down by lower number of draws from gaming business, lower food and beverage sales from the hotel and recreation business segment and lower rental income generated by the property development and property investment business segment.

For the six-month period, it registered a pretax profit of RM5.19 million versus a pre-tax loss of RM420,000 a year ago, with revenue declining 4.1% to RM146.73 million from RM153.06 million.

BAssets expects the operating performance for the remaining quarters in the financial year ending June 30, 2020 to be challenging.