|After the cancel listing of TRUST in singapore, BJTOTO share price still can not perform.|
No choice buy for dividend loh.
Kenanga research report:
Actual vs. Expectations At 45% of our full-year FY14 estimate and 43% of market consensus, the RM181.4m 1H14 net profit came in below expectations.
The weaker than expected 1H14 results were due to
(i) lower average ticket sales of RM21.2m/draw in 1H14 vs. our assumption of RM22.4m/draw; and
(ii) higher effective tax rate (ETR) of 31.6% in 1H14 vs. our assumption of 28.0%.
Dividends A 6.0 sen 2nd interim NDPS was declared in 2Q14, totalling YTD NDPS to 10.0 sen implying a 73.5% payout ratio. The 6.0 sen NDPS is payable on 28 Jan-14 with entitlement date of 13 Jan-14.
Key highlights The 2Q14 net profit of RM82.6m contracted 14% sequentially from RM98.8m in 1Q14 on the back of 2% dip in revenue. The weaker set of results was mainly due to
(i) corporate exercise expenses, estimated at c.RM5m, for the already aborted STM listing; and
(ii) the normalisation of luck factor after a good run in 1Q14. The 2Q14 estimated prize payout ratio (EPPR) rose to 59.7% from 57.7%.
Amsecurities research report:
- We have a HOLD recommendation on Berjaya Sports Toto Bhd (BST) with a fair value of RM4.40/share.
- Although the proposed payment of special dividends is off due to the cancellation of the listing of STM Trust, we believe that BST’s annual dividend yields are still attractive.- We forecast a gross DPS of 25 sen, which suggests a yield of 6.4% for FY14F. This is close to Magnum Bhd’s FY15F dividend yield of 6.8%.
Publich invest research report:
BToto‟s results for 2QFY14 were below expectations, with revenue and net profit of RM866.9m and RM82.6m respectively. 1HFY14 revenue of RM1.8bn accounted for 47% of our and consensus forecast respectively, while net profit of RM181.4m accounted for 44% and 43% of our and consensus numbers respectively. A second interim single tier dividend of 6 sen was declared, bringing YTD dividend to 10 sen.
Revenue (-2.3% QoQ, -4.6% YoY). Revenue for the quarter decreased 4.6% YoY mainly due to lower revenue by Sports Toto Malaysia (STM). STM revenue fell 3.3% YoY as 2QFY13 had benefited from one more draw day and stronger sales driven by the high jackpot in Power Toto 6/55. Berjaya Philippines
|BJTOTO - NOTICE OF BOOK CLOSURE|
LISTING'S CIRCULAR NO. L/Q : 69508 OF 2013 Second interim single tier exempt dividend of 6 sen per share. Kindly be advised of the following : 1) The above Company's securities will be traded and quoted [ "Ex - Dividend" ] as from : [ 9 January 2014 ] 2) The last date of lodgement : [ 13 January 2014 ] 3) Date Payable : [ 28 January 2014 ] MANAGER, SEC. MARKET