BToto records higher earnings in Q3

PETALING JAYA: Berjaya Sports Toto Bhd (BToto) saw a 23.60% jump in its net profit for the third quarter ended Jan 31, 2018, to RM59.23 million from RM47.94 million a year ago, on the back of improved results registered by Sports Toto Malaysia Sdn Bhd and H.R. Owen Plc.

Revenue for the quarter under review rose 2.72% to RM1.40 billion from RM1.37 billion registered in the previous year's corresponding quarter, mainly attributed to the higher revenue reported by H.R. Owen but partly offset by lower revenue from Sports Toto and Philippine Gaming Management Corporation (PGMC).

The group also declared a third interim dividend of four sen per share for the financial year ending April 30, 2018 which is payable on May 3, 2018.
“With the continued rampant illegal gaming activities and weak consumer sentiments, it is expected that BToto’s core number forecast operation (NFO) business undertaken by Sports Toto would be challenging for the remaining quarter of the financial year ending April 30, 2018,” the group commented on its prospects.

"Notwithstanding these challenges, the directors are confident that the group will continue to maintain its market share in the NFO business for the remaining quarter of the financial year ending April 30, 2018,” it added.
For the cumulative period of nine months, net profit rose 15.67% to RM195.28 million from RM168.83 million a year ago, due to lower prize payout in the period under review as well as higher operating expenses incurred and goods and services tax adjustment made due to different interpretation on the Value of Gaming Supply, in the corresponding period last year.

Revenue at RM4.26 billion was on par with RM4.26 billion recorded last year, on the back of the improved results reported by Sports Toto and H.R. Owen, which was partly offset by lower results reported by PGMC.