BToto revenue up 3.3% in third quarter

PETALING JAYA: Berjaya Sports Toto Bhd (BToto) saw its revenue in the third quarter ended Jan 31, 2017 (Q3’17) increase 3.3% to RM1.37 billion, from RM1.32 billion in the previous corresponding quarter.
In a statement yesterday, BToto said the increase in revenue was mainly due to higher revenue from HR Owen and the recognition of substantial project contract sales for International Lottery & Totalizator Systems Inc (ILTS).
The group’s net profit decreased to RM47.9 million, compared with RM58.3 million in the same period last year, mainly due to the Goods and Services Tax (GST) adjustment and higher operating expenses.
BToto has declared a third interim single tier dividend of 3 sen per share in respect of the financial year ending April 30, 2017 (FY17) and payable on April 28, 2017. The entitlement date has been fixed on April 13, 2017.
This brings the total dividend distribution per share in respect of FY17 to 11 sen per share. The total dividend distribution for Q3’17 is RM148.3 million, representing about 87.8% of the attributable profit of the group.
For the nine months period, the group’s net profit declined to RM168.8 million, from RM201.5 million a year ago, while revenue grew 4.4% to RM4.26 billion, against RM4.08 billion previously.
On prospects, BToto said the intense competition from illegal gaming activities coupled with rising costs which lead to weaker consumer sentiments will continue to post challenges to the businesses of the group.
“Hence, the directors expect the NFO business to be challenging for the remaining quarter of the financial year ending April 30, 2017. In spite of the above, the directors expect the group to maintain its market share in the NFO business,” it noted.