PETALING JAYA: Berjaya Land Bhd (BLand) posted a pre-tax profit of RM2.18 million for two months ended June 30, 2019, mainly due to the unfavourable fair value changes of investment properties, impairment of gaming rights, assets of disposal group and goodwill, mitigated by the gain recognised on disposal of a subsidiary company amounting to RM18.37 million.
Its revenue of RM1.08 billion was substantially contributed by the gaming business segment operated by Sports Toto Malaysia Sdn Bhd, motor retailing business operated by HR Owen and the property development and investment segment.
For the 14-month period, BLand saw a pre-tax profit of RM546.26 million and revenue of RM7.32 billion, both contributed by the gaming and motor retailing business segments.
BLand has changed its financial year end from April 30 to June 30 so as to coincide with the new financial year-end of its holding company Berjaya Corp Bhd.
The directors expect the results of the number forecast operation (NFO) business to be satisfactory and that it will continue to maintain its market share for the forthcoming financial year ending June 20, 2020.
The performance of both hotels and resorts and property development business segments are expected to remain satisfactory.