KUALA LUMPUR: BERJAYA LAND BHD [] (BLand) net profit for the second quarter ended Oct 31, 2010 fell to RM5.71 million from RM15.16 million a year earlier despite posting revenue RM1.02 billion.
Earnings per share was 0.11 sen while net assets per share was RM1.03.
For the six months ended Oct 31, BLand's net profit was RM121.58 million on the back of revenue RM2 billion.
The lower net profit was attributed to the lower profit contribution from the gaming business operated by BERJAYA SPORTS TOTO BHD []'s principal subsidiary company Sports Toto (Malaysia) Sdn Bhd.
It said Sports Toto registered a lower pre-tax profit in the quarter under review due to the increase in Pool Betting Duty from 6% to 8% (effective June 1, 2010) coupled with higher prize payout.
"However, this was partly mitigated by the group's higher share of profits from associated companies and lower finance costs incurred in the current quarter," it said on Monday, Dec 20.
Reviewing its performance, BLand said its revenue of RM1.02 billion for period compared RM983.07 million a year ago was attained mainly due to the higher property sales reported by the property development and investment division.
The company said it expects its operating performance for the remaining quarters of the financial year ending April 30, to remain satisfactory.
Earnings per share was 0.11 sen while net assets per share was RM1.03.
For the six months ended Oct 31, BLand's net profit was RM121.58 million on the back of revenue RM2 billion.
The lower net profit was attributed to the lower profit contribution from the gaming business operated by BERJAYA SPORTS TOTO BHD []'s principal subsidiary company Sports Toto (Malaysia) Sdn Bhd.
It said Sports Toto registered a lower pre-tax profit in the quarter under review due to the increase in Pool Betting Duty from 6% to 8% (effective June 1, 2010) coupled with higher prize payout.
"However, this was partly mitigated by the group's higher share of profits from associated companies and lower finance costs incurred in the current quarter," it said on Monday, Dec 20.
Reviewing its performance, BLand said its revenue of RM1.02 billion for period compared RM983.07 million a year ago was attained mainly due to the higher property sales reported by the property development and investment division.
The company said it expects its operating performance for the remaining quarters of the financial year ending April 30, to remain satisfactory.
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