Berjaya Land is cautiously optimistic of its outlook for FY23

LUMPUR: Berjaya Land Bhd (Bland), which returned to the black in the first quarter ended Sept 30 (1Q23), is cautiously optimistic of a satisfactory performance for the remaining quarters of the financial year ending June 30, 2023 (FY23).

“The directors are cautiously optimistic that the performance of the business operations of the group for the remaining quarters of the FY23 to be satisfactory, despite having to bear the rising operating costs going forward,” Bland said in the notes accompanying its financial results.

Bland posted a net profit of Rm8.45mil in 1Q23 against a net loss of Rm74.3mil in the same corresponding quarter a year ago due to higher revenue

It posted earnings per share of 0.17 sen during the quarter from a loss per share of 1.51 sen last year.

Revenue surged 77.35% to Rm1.71bil from

Rm963.04mil last year.

Bland pointed out that the higher revenue was mainly due to its gaming business segment, operated by STM Lottery Sdn Bhd, which reported an increase in revenue of 844.7% mainly due to a higher number of draws conducted.