Wednesday, September 21, 2011

BToto 1Q earnings up 44% to RM92.1m

KUALA LUMPUR: BERJAYA SPORTS TOTO BHD []'s earnings rose 44% to RM92.10 million in the first quarter ended July 31, 2011 from RM63.95 million a year ago, due to a lower prize payout.

It said on Wednesday, Sept 21 that revenue was a marginal 1.2% increase to RM845.81 million from RM835.39 million. Earnings per sharea were 6.89 sen compared with 4.78 sen. It declared an interim dividend of 8.0 sen.

'The higher percentage increase in pre-tax profit was mainly attributed to the higher pre-tax profit contributed by Sports Toto coupled with higher pre-tax profit reported by Berjaya Philippines Inc. group as a result of higher revenue growth registered in the current quarter,' it said.

When compared with the preceding fourth quarter ended April 30, 2011,BToto said its revenue was slightly lower'' mainly due the seasonally high sales during the Chinese Lunar New Year festive season in February 2011 and fewer draws in the 1Q.

'The decrease in pre-tax profit was mainly due to the drop in revenue and higher prize payout in the current quarter under review,' it said.

As at July 31, deposits, cash and bank balances totalled RM436.79 million versus RM449.89 million at April 30.

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