Berjaya Sports Q3 revenue edges higher on car unit

Friday 16th of March 2018

Berjaya Sports Toto, a Malaysian lottery company and car sales dealer, said its Q3 revenue edged up 2.7 percent as higher sales at the auto unit offset lower revenue from its Malaysian and Philippine lottery operations.

Overall group revenue came in at RM 1.40 billion ($357.6 million). Revenue at its Sports Toto unit fell 3.3 percent, partly because the same period last year was boosted by the timing of the Chinese New year and a higher number of draws.

Net profit gained 23.6 percent to RM63.1 million, with the results helped by a 19.6 percent gain in pre-tax profit at Sports Toto due to lower prize payouts and operating expenses, despite the lower sales.

Results from the Philippine Gaming Management Corporation were hit by the unfavorable exchange rate between the Philippine peso and Malaysian ringgit.

In local currency, PGMC recorded an increase in revenue as compared to the previous year due to higher lease rental income earned as a result of higher sales reported by the Philippine Charity Sweepstakes Office. It reported a drop in pre-tax profit mainly due to higher operating expenses incurred in the current quarter under review.

Lottery Profit Sales Results Exchange rates