I have about 2 lots of BJTOTO.
Written by Joseph Chin
Wednesday, 09 September 2009 18:06
KUALA LUMPUR: BERJAYA SPORTS TOTO BHD [] posted net profit of RM100.45 million in its first quarter ended July 31, 2009, an increase of 8.7% from RM92.39 million a year ago due to lower prize payout.
It said on Sept 9 that revenue was flat at RM826.16 million compared with RM825.9 million while earnings per share were 7.97 sen compared with 7.36 sen.
BToto said pre-tax profit rose 8.8%, mainly due to the results of Sports Toto Malaysia Sdn Bhd while the revenue was marginally higher due to improved revenue reported by Prime Gaming Philippines, Inc.
"The revenue of Sports Toto, the principal subsidiary, decreased marginally by 0.2% to RM795.4 million compared to RM796.6 million in the previous year corresponding quarter.
However, Sports Toto's pre-tax profit rose 6.6% to RM133.4 million from RM125.1 million a year ago mainly due to a lower prize payout in the current quarter under review.
On the dividends, BToto had on July 27 paid the first interim dividend of 19 sen comprising 9 sen tax exempt dividend and 10 sen single-tier exempt dividend for 1Q in the financial year ending 30 April 2010.
BToto had also distributed 89.7 million treasury shares on July 27, on the basis of one treasury share for every 14 shares held as dividends.
The first interim dividend amounting to RM238.64 million represented about 237.6% of the group's attributable profit for the quarter ended July 31.
"The board remains committed to the company's dividend policy of distributing at least 75% of its annual net earnings to shareholders," it said.
On the prospects, BToto said based on the prevailing global economic conditions and the adverse impact on the Malaysian economy, the board viewed the NFO business in Malaysia to remain resilient.
"Barring unforeseen circumstances, the board is optimistic that the group's performance for the remaining quarters of the financial year ending April 30, 2010 will be good," it said.