revenue growth

 
 

UOBAM launches equity fund to capitalise on long-term growth of emerging economies

KUALA LUMPUR: UOB Asset Management (Malaysia) Bhd (UOBAM) has launched the United Global Emerging Markets Opportunity Fund to help Malaysian investors ride on the long-term growth of global emerging markets. According to its press statement, the fund seeks to provide investors with long-term capital appreciation by investing a minimum of 90 per cent of its […]


BToto Q1 net profit rises 16.9%

PETALING JAYA: Berjaya Sports Toto Bhd’s (BToto) net profit for the first quarter ended July 31, 2018 rose 16.92% to RM86.89 million from RM74.31 million a year ago due to improved results from Sports Toto Malaysia Sdn Bhd and H.R. Owen Plc.

Revenue for the quarter rose 1.97% to RM1.50 billion from RM1.47 billion a year ago due to revenue growth attained by H.R. Owen.

The board declared a first interim dividend of 4 sen per share in respect of the financial year ending April 30, 2019 (FY19), payable on Oct 23, 2018. The entitlement date has been fixed on Oct 5, 2018.

The first interim dividend distribution for FY19 will amount to RM53.89 million, representing about 62.01% of the attributable profit of the group for the first quarter.

In a filing with Bursa Malaysia today, the group said Sports Toto registered a marginal increase in revenue and 14% increase in pre-tax profit during the quarter, mainly due to lower prize payout and operating expenses.

The Philippine Gaming Management Corp (PGMC) saw a marginal drop in revenue due to lower lease rental income earned from the Philippine Charity Sweepstakes Office. However, pre-tax profit rose 12.2% mainly due to higher operating expenses a year ago.

Upon translation to ringgit, PGMC reported a 11.3% drop in revenue while pre-tax profit rose marginally due to unfavourable foreign exchange effect during the quarter.

Meanwhile, H.R. Owen’s revenue rose 4.2% to RM698.8 million from RM670.7 million a year ago while pre-tax profit rose 35.4% to RM20.9 million from RM15.5 million a year ago.

The improved results reported by H.R. Owen was mainly due to revenue growth attributed to higher new vehicle sales during the quarter.

Commenting on future prospects, BToto expects Sports Toto’s business performance to be satisfactory. The group remains confident of maintaining its market share in the numbers forecast operators business for the rest of FY19.


Family businesses outperform equity markets

KUCHING: Family-owned businesses outperform broader equity markets across every region and sector on a long-term basis, according to the ‘Credit Suisse Family 1000 in 2018’ report, published by the Credit Suisse Research Institute (CSRI). In a statement, CSRI saw that that family-owned businesses deliver stronger revenue growth in all regions and higher levels of profitability, […]


‘One AirAsia initiative cuts costs’

KUALA LUMPUR: AirAsia Group Bhd’s consolidation initiative, known as One AirAsia, that unifies its various regional affiliates under one holding company, provides the Group cost-efficiency whilst taking out the complexity and duplication in its operations. In his latest post on Twitter, group chief executive officer Tan Sri Tony Fernandes said the current oil price that […]


Spotlight on Alibaba CEO Zhang as Jack Ma starts retirement countdown

BEIJING, Sept 10 — Unlike his charismatic boss, Jack Ma, Alibaba chief executive Daniel Zhang isn’t usually one to grab the limelight, let alone make kung fu movies with superstars or dance in public. Little is known outside the company about…


Wall Street week ahead: Strong US sales could ease profit worries into 2019

NEW YORK, Sept 8 — A healthy outlook for US revenue growth stands to soothe stock investors worried about the effect on corporate profits from tax cuts wearing off next year. S&P 500 revenue growth, which hit 9.5 per cent in the second…


Amazon touches US$1t, on pace to overtake Apple

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NEW YORK, Sept 5 — Amazon.com Inc yesterday briefly joined Apple Inc to become the second US$1 trillion (RM4.14 trillion)  publicly listed US company after its stock price more than doubled in a year as it grew rapidly in retail and cloud…


AirAsia X slips into red in Q2, but upbeat on outlook

KUALA LUMPUR, Aug 30 — Long-haul budget carrier AirAsia X bhd slipped into the red with a net loss of RM57.45 million in the second quarter ended June 30, 2018 against a net profit of RM47.43 million in the same quarter last year. For the quarter…


QSR Brands targets RM5 billion revenue this year

GEORGE TOWN: QSR Brands (M) Holdings Bhd, which operates KFC and Pizza Hut restaurants in Malaysia and neighbouring countries, targets to hit total revenue of RM5 billion in the Southeast Asian region this year compared with RM4.4 billion achieved last year. Managing director Datuk Seri Mohamed Azahari Kamil said there were 25 million KFC customers […]


MGB Berhad revenue up 15pc in second quarter

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KUALA LUMPUR, Aug 24 — MGB Berhad’s revenue grew 15 per cent, from RM48.98 million to RM369.33 million in the second quarter of this year. In a filing to Bursa Malaysia today, the investment holding company said its revenue was boosted mainly…