Higher prize payout drags BToto's 2Q net profit down, pays 4 sen dividend

TheEdge Fri, Dec 14, 2018 08:13pm - 5 years View Original


KUALA LUMPUR (Dec 14): Number forecast operator (NFO) Berjaya Sports Toto Bhd’s (BToto) net profit slipped 2.3% to RM60.29 million for the second financial quarter ended Oct 31, 2018 (2QFY19) from RM61.73 million a year ago, mainly due to lower results from Sports Toto Malaysia Sdn Bhd.

This was partly mitigated by improved results attained by H.R. Owen Plc and Philippine Gaming Management Corp.

This resulted in a lower earnings per share of 4.48 sen for 2QFY19 compared with 4.58 sen for 2QFY18.

Quarterly revenue was also down 2.3% to RM1.35 billion from RM1.38 billion a year ago.

Nevertheless, the group declared a second interim dividend of 4 sen per share, amounting to RM53.9 million, for the financial year ending April 30, 2019 (FY19), payable on Feb 12, 2019.

In a filing with Bursa Malaysia today, BToto said Sports Toto's pre-tax profit fell 13.4% year-on-year (y-o-y) in 2QFY19, mainly due to higher prize payout.

For the cumulative six months (1HFY19), BToto's net profit grew 8.2% to RM147.18 million from RM136.04 million a year ago, on improved results of H.R. Owen in the current quarter under review. However, revenue was flat at RM2.85 million compared with RM2.86 million in 1HFY18.

Going forward, BToto anticipates that the performance of the NFO business of Sports Toto will be satisfactory and are confident that the group will continue to maintain its market share in the NFO business for the remaining quarters of FY19.

BToto shares closed up one sen or 0.46% at RM2.17 today, with 679,000 shares done, for a market value of RM2.92 billion.
 

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