Berjaya Sports Toto Q2 revenue drops 5 percent

Monday 18th of December 2017

Berjaya Sports Toto said Q2 revenue fell almost 5 percent, dragged down by a weak performance at its H.R. Owen car sales unit and International Lottery & Totalizator Systems business.

The company posted revenue of RM1.38 billion ($338.5 million) in the quarter, it said in a filing to Bursa Malaysia. The decline at the lottery systems business was attributed mainly to substantial contract sales that were recorded in the same period a year ago.

Berjaya said its Sports Toto Malaysia business showed “substantial” improvement with revenue gaining 4.1 percent and pre-tax profit up 20.1 percent. The gains were mainly attributed to strong sales from a high jackpot in the Grand Toto 6/63 game which recorded its highest jackpot ever of RM69.6 million in September 2017.

Overall pre-tax profit edged up 0.7 percent to RM96.1 million from RM95.4 million in the corresponding quarter of the previous year.

Berjaya’s Philippine unit, Philippine Gaming Management Corporation, also recorded higher revenue and pre-tax profit, up 11.1 percent and 4.8 percent respectively. The company supplies and maintains a computerised on-line lottery system and software support to the Philippine Charity Sweepstakes Office. It said the higher sales was due to higher lease rental income earned as a result of higher sales reported by the PCSO.

Lottery Profit Quarterly results Drop Revenue