Sunday, December 16th, 2018
KUALA LUMPUR, Dec 16 — DuitNow, a new electronic payment service from Payments Network Malaysia Sdn Bhd (PayNet) that allows bank customers to transfer money instantly and securely using the recipient’s mobile phone number, is now available to…
PETALING JAYA: Berjaya Sports Toto Bhd’s (BToto) pre-tax profit for the second quarter ended Oct 31, 2018 fell 1.9% to RM94.29 million from RM96.08 million a year ago due to lower results from Sports Toto Malaysia Sdn Bhd.
In a filing with Bursa Malaysia, BToto said the lower results from Sports Toto was partly mitigated by improved results from H.R. Owen Plc and Philippine Gaming Management Corporation (PGMC).
Revenue for the quarter fell 2.3% to RM1.35 billion from RM1.38 billion a year ago mainly due to lower revenue reported by Sports Toto and H.R. Owen.
According to the group, Sports Toto’s 1.4% drop in revenue was mainly due to the previous year’s corresponding quarter which registered strong sales from its high jackpot in the Grand Toto 6/63 game, while its higher percentage decrease in pre-tax profit of 13.4% was mainly due to higher prize payout during the quarter under review.
PGMC’s revenue grew 7.2% during the quarter (when reporting in its functional currency) due to higher lease rental income earned consequent to improved sales of the Philippine Charity Sweepstakes Office.
Its pre-tax profit rose 49.8% due to lower operating expenses incurred. However, the unfavourable foreign exchange effect upon translation to ringgit resulted in PGMC’s revenue falling marginally by 0.4% while the increase in pre-tax profit was lower at 39%.
H.R. Owen’s revenue (in its functional currency) rose 1.1% due to higher revenue from new car sales. It recorded a pre-tax profit of GBP800,000 during the quarter compared with a loss of GBP700,000 a year ago due to higher sales from the new car sector.
However, upon translation to ringgit, the H.R. Owen reported a drop in revenue of 3.1% to RM523.6 million from RM540.3 million a year ago due to the unfavourable foreign exchange effect.
It recorded a pre-tax profit of RM4.5 million compared with a pre-tax loss of RM4 million a year ago.
For the six months ended Oct 31, 2018, pre-tax profit rose 6.4% to RM227.33 million from RM213.60 million a year ago while revenue fell marginally to RM2.85 billion from RM2.86 billion a year ago.
The board has declared a second interim dividend of 4 sen per share in respect of the financial year ending April 30, 2019 (FY19), payable on Feb 12, 2019. The entitlement date has been fixed on Jan 18, 2019.
The second interim dividend distribution for FY19 will amount to RM53.9 million. The total dividend distribution for the financial period ended Oct 31, 2018 is 8 sen per share amounting to about RM107.8 million, representing 73.2% of the attributable profit of the group for the period.
The group expects Sports Toto’s performance to be satisfactory and is confident that BToto will continue to maintain its market share in the number forecast operator business for the remaining quarters of FY19.
PARIS, Dec 16 — France’s budget deficit is likely to overshoot the European Union’s limit of 3 per cent of GDP next year and reach 3.4 per cent, National Assembly president Richard Ferrand told Sunday newspaper Le Journal du Dimanche. France…
KUALA LUMPUR, Dec 16 — Foreign fund inflow is expected to improve in the upcoming weeks as evident by the inflow of RM123.3 million in foreign funds on Thursday, the highest inflow since November 8. Inter-Pacific Securities Sdn Bhd Had of Research…
WASHINGTON, Dec 16 — Though markets are on edge and the arrest of a top Chinese executive threatened to spark a crisis, there are signs the US-China trade war can be resolved without further collateral damage to the global economy. The whole world…
WASHINGTON, Dec 16 — The US Federal Reserve is likely to raise interest rates in the coming week but policymakers have begun to signal they may take it a bit slower in 2019. Waning growth, a trade war, tame inflation and an increasingly scary…
The third quarter of this year has been a disappointing period for Corporate Malaysia as results came in below expectations and analysts believing that the profit trend would unlikely get better anytime soon. Analysts said the lacklustre corporate third quarter among Bursa Malaysia-listed companies would likely extend into the last three months of the year […]
The FBM KLCI remained bearish last week as sentiment remained bearish on generally bearish markets performances regionally. There are no positive catalysts last week but weaker ringgit and falling crude oil prices affected the market negatively. The index fell to its lowest since January 2017 last Wednesday before rebounding. The benchmark FBM KLCI eventually fell […]
The Malaysian palm oil futures (FCPO) closed higher for the third consecutive session, buoyed by the slowdown in output reported in November’s monthly data from Malaysia Palm Oil Board (MPOB) and easing stock levels in Indonesia. On Friday, FCPO decreased 3.5 per cent to 2,068 as compared with last Friday’s closing price at 1,998, a […]