Berjaya Land's Q3 revenue rises to RM1.56b

PETALING JAYA: Berjaya Land Bhd’s (BLand) revenue rose 2.1% to RM1.56 billion in the third quarter ended Jan 31, 2018, from RM1.53 billion in the previous corresponding quarter.
In a filing with Bursa Malaysia today, the group said this was mainly due to higher revenue from new and used car sales achieved by HR Owen Plc and the hotels and resorts segment.
The group’s pre-tax profit declined by 4.3% to RM86.84 million, from RM90.75 million in the same quarter a year ago, dragged by lower share of profit from associate companies, mainly from Berjaya Kyoto Development (S) Pte Ltd due to lower number of Four Seasons Residences sold.
For the nine-month period, revenue went up 1.6% to RM4.78 billion from RM4.7 billion a year ago, while pre-tax profit fell 79.6% to RM90.5 million from RM443 million a year ago.
On its prospects, BLand said it remains confident that BToto Group will continue to maintain its market share in the number forecast operation segment despite the continued illegal gaming activities and weaker consumer sentiments.

BLand expects the performance of the hotels and resorts business to remain satisfactory while prospects for the property market are expected to remain lukewarm.

“Under the foregoing circumstances, the directors are of the view that the operating performance of the group will continue to remain challenging in the remaining quarter of the financial year ending April 30, 2018,” it added.