BToto declares 3 sen dividend for Q4, totalling 14 sen for the year

PETALING JAYA: Berjaya Sports Toto Bhd (BToto) reported a marginal drop in revenue to RM1.477 billion for the fourth quarter ended April 30, 2017 against RM1.484 billion in the same quarter a year ago, mainly due to lower number of draws for Sports Toto Malaysia Sdn Bhd.
Its net profit fell from RM104.71 million to RM72.49 million on the back of exceptionally lower prize payout in the previous year’s corresponding quarter.
The group has proposed to declare an interim dividend of 3 sen per share amounting to RM40.4 million, payable on Aug 9 with entitlement date on July 20.
This will bring the total dividend distribution per share for the financial year ended April 30, 2017 to 14 sen per share, with a total dividend distribution of about RM188.7 million, representing about 78.2% of the attributable profit of the group.
BToto said in a statement yesterday that Philippine Gaming Management Corporation registered a 19.4% increase in revenue, driven by higher lease rental income earned as a result of higher sales reported by the Philippine Charity Sweepstakes Office.
Meanwhile, H.R. Owen reported higher revenue and pre-tax profit as a result of improved revenue contributed by higher new car sales volume coupled with revenue contribution from an additional outlet.
With the intense competition from illegal gaming activities coupled with rising costs and weaker consumer sentiments, BToto said the directors expect the number forecast operation (NFO) business to be challenging for the financial year ending April 30, 2018.
“However, it is expected that the group will continue to maintain its market share in the NFO business,” it noted.
BToto’s full-year revenue rose 3.1% from RM5.56 billion to RM5.73 billion. Net profit came in at RM241.31 million, 21.8% lower than the RM308.64 million achieved a year ago.