Sports Toto posts higher revenue of RM1.59 billion for first quarter

PETALING JAYA: Sports Toto Bhd (SPToto) reported RM1.59 billion revenue for the first quarter ended Sept 30, 2023, an increase of 12.4% over the RM1.42 billion registered in the previous year’s corresponding quarter.

The group registered a drop of 15.4% in pre-tax profit from RM106.2 million in the corresponding quarter of the previous year to RM89.8 million in the quarter under review.

For the quarter ended Sept 30, 2023, STM Lottery Sdn Bhd reported revenue growth of 7.2% despite having fewer draws conducted (42 draws versus 46 draws in last year’s corresponding quarter).

The higher revenue achieved was driven by improvement in average sales per draw as well as higher accumulated jackpot prizes in both digit jackpot and lotto games.

However, pre-tax profit in the current quarter fell by 4.2%, mainly attributed to higher prize payout in the current quarter under review.

HR Owen Plc achieved growth of 17.1% in revenue compared with the previous year’s corresponding quarter, which was attributed to the improved new car sales from its new multipurpose showrooms, service centres and headquarter at Hatfield, coupled with favourable foreign exchange effect during the current quarter under review.

Its pre-tax profit dropped to RM0.4 million from RM11.7 million recorded in the previous year corresponding quarter primarily due to higher operating expenses incurred coupled with higher finance costs arising from interest rate hike and higher stocking loans.

The board has declared a first interim share dividend of about 26.46 million shares on the basis of one treasury share for every 50 existing ordinary shares held (fractions of treasury shares to be disregarded) in respect of financial year ending June 30, 2024.

The book cost of the 26.46 million treasury shares is about RM39.58 million, which is equivalent to about 3 sen per share.

The entitlement date has been fixed on Dec 29, 2023. The treasury shares to be distributed as share dividend will be credited into the entitled depositors’ securities accounts maintained with Bursa Malaysia Depository Sdn Bhd on Jan 19, 2024.

The first interim share dividend distribution for the financial year ending June 30, 2024 amounts to approximately RM39.58 million.

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