KUALA LUMPUR: BERJAYA SPORTS TOTO BHD [] saw its earnings fall 36% to 65.08 million for the second quarter ended Oct 31 from RM102.54 million a year ago as it bore the brunt of higher pool betting duty and higher prize payout.
It said on Friday, Dec 10 revenue slipped 1.3% to RM845.79 million from RM857.10 million a year ago. Earnings per share were 4.87 sen versus 7.62 sen. It declared a dividend of four sen a share.
'Sports Toto, the principal subsidiary, recorded a decrease in revenue and pre-tax profit of 2.1% and 39.2% respectively as compared to previous year corresponding quarter,' it said.
The decline in revenue was due to a lower number of draws while the drop in pre-tax profit was mainly due to the increase in pool betting duty from 6% to 8% with effect from June 1, 2010 coupled with higher prize payout compared to a year ago, BToto said.
It said for the first half, the group recorded a marginal drop in revenue of 0.1% and a decrease in pre-tax profit of 32.2% when compared to the previous corresponding period.
BToto said the decline was due to higher pool betting duty and higher prize payout and also higher finance cost.
It said on Friday, Dec 10 revenue slipped 1.3% to RM845.79 million from RM857.10 million a year ago. Earnings per share were 4.87 sen versus 7.62 sen. It declared a dividend of four sen a share.
'Sports Toto, the principal subsidiary, recorded a decrease in revenue and pre-tax profit of 2.1% and 39.2% respectively as compared to previous year corresponding quarter,' it said.
The decline in revenue was due to a lower number of draws while the drop in pre-tax profit was mainly due to the increase in pool betting duty from 6% to 8% with effect from June 1, 2010 coupled with higher prize payout compared to a year ago, BToto said.
It said for the first half, the group recorded a marginal drop in revenue of 0.1% and a decrease in pre-tax profit of 32.2% when compared to the previous corresponding period.
BToto said the decline was due to higher pool betting duty and higher prize payout and also higher finance cost.
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