Berjaya Assets FY15 net profit jumps 59.7%

PETALING JAYA: Berjaya Assets Bhd saw its net profit fall to RM5.8 million for the fourth quarter ended June 30, 2015 against RM22.93 million in the previous corresponding period due to lower profits from the gaming, hotel and recreation business segments.
Revenue came in lower at RM101.02 million from RM106.49 million.
The group has proposed a final dividend of 1 sen for the quarter under review.
In a filing with the stock exchange, Berjaya Assets said the lower profit was due to the gaming business segment operated by Natural Avenue Sdn Bhd (NASB), as well as the hotel and recreation business segment.
However, it noted that this was partly mitigated by higher profit contribution from the property development and investment business segment.
“The directors envisage that the operating performance of the group for the financial year ending 30 June 2016 will be challenging,” it said.
Berjaya Assets’ full-year net profit jumped 59.68% from RM45.34 million to RM72.4 million because of a gain in certain quoted investments.
Revenue, meanwhile, was slightly down to RM410.56 million from RM419.43 million.