BToto 4Q net profit up 28.8% to RM104m

by **hlk** Mon 20 Jun 2011, 18:36

KUALA LUMPUR: BERJAYA SPORTS TOTO BHD []’s net profit rose 28.8% to RM104.18 million in the fourth quarter ended April 30, 2011 from RM80.89 million a year ago, boosted by strong record sales.

It said on Monday, June 20 that revenue rose 5% to RM901.30 million from RM858.29 million while earnings per share were 7.79 sen versus 6.05 sen. It declared tax exempt dividend of three sen per share compared with eight sen a year ago.

BToto said pre-tax profit rose 26.2% compared to the 5% increase in revenue mainly due to the higher pre-tax profit recorded by Sports Toto at 29.8% while revenue growth was 5.7%.

The increase in revenue was mainly attributed to strong sales from a record Jackpot of the Supreme Toto 6/58 lotto game coupled with the current quarter having higher number of draws as compared to the previous year corresponding quarter.

“The higher increase in pre-tax profit as compared to the increase in revenue was mainly attributed to the lower prize payout in the current quarter under review as compared to previous year corresponding quarter,” it said.

For the financial year ended April 30, 2011, the net profit declined by 9.2% to 348,098 from the previous financial year’s RM383.50 million. Revenue inched up 1.28% to RM3.433 billion from RM3.392 billion. The total dividends were 21 sen compared with 57.5 sen a year ago.

“The increase in revenue was mainly attributed to the higher revenue reported by Berjaya Philippines Inc. group,” it said.

Sports Toto registered a marginal increase in revenue of 0.4% from a year ago while pre-tax profit fell 11.1% mainly due to the impact from the increase in Pool Betting Duty from 6% to 8% effective June 1, 2010. This impact was mitigated by the reduction in the 4D Big Special Prize from RM200 to RM180 per RM1 per bet with effect from Dec 15, 2010.