reported RM1.65 billion revenue in the current quarter
under review, registering an increase of 2.1% over the revenue of RM1.62 billion in the
previous year’s corresponding quarter. The Group also registered RM104.2 million pre
tax profit, which is an improvement of 9.6% from the pre-tax profit of RM95.0 million in
the corresponding quarter of the previous year.
PRESS RELEASE
SPORTS TOTO BERHAD REGISTERS RM1.65 BILLION REVENUE AND RM104.2 MILLION PRE-TAX PROFIT FOR Q4 2024, DECLARING 4TH INTERIM DIVIDEND OF 2.0 SEN PER SHARE
Date: 23 August 2024
Venue: Kuala Lumpur
Review of Results for Current Quarter
Sports Toto Berhad (“SPToto”) reported RM1.65 billion revenue in the current quarter under review, registering an increase of 2.1% over the revenue of RM1.62 billion in the previous year’s corresponding quarter. The Group also registered RM104.2 million pre tax profit, which is an improvement of 9.6% from the pre-tax profit of RM95.0 million in the corresponding quarter of the previous year.
The improved results for the current quarter ended 30 June 2024 was mainly due to the better performance reported by the Group’s principal subsidiary company, STM Lottery Sdn Bhd (“STM Lottery”).
For the current quarter ended 30 June 2024, STM Lottery reported stronger revenue growth of 9.8% mainly attributed to higher sales per draw coupled with an additional draw conducted as compared to the previous year corresponding quarter (i.e. 41 draws versus 40 draws in the corresponding quarter). Its pre-tax profit increased by 47.6% on the back of higher revenue achieved, coupled with lower prize payout during the current quarter under review.
As for H.R. Owen Plc (“H.R. Owen”), its revenue dropped by 5.1% in the current quarter as compared to the previous year corresponding quarter, mainly attributed to lower volume of car sold from new and used car sectors which stemmed from the phasing out of certain models which have come to the end of their product life cycle. However, with the favourable foreign exchange effect, H.R. Owen’s revenue dropped marginally by 0.1% when converted into Ringgit Malaysia, being the reporting currency of the Group. Its pre tax profit was lower at RM17.6 million as compared to RM22.8 million in last year corresponding quarter resulted from higher operating costs and depreciation incurred following the completion and full operation of the Hatfield Centre in May 2023.
Sports Toto Berhad (“SPToto”) reported RM1.65 billion revenue in the current quarter under review, registering an increase of 2.1% over the revenue of RM1.62 billion in the previous year’s corresponding quarter. The Group also registered RM104.2 million pre tax profit, which is an improvement of 9.6% from the pre-tax profit of RM95.0 million in the corresponding quarter of the previous year.
The improved results for the current quarter ended 30 June 2024 was mainly due to the better performance reported by the Group’s principal subsidiary company, STM Lottery Sdn Bhd (“STM Lottery”).
For the current quarter ended 30 June 2024, STM Lottery reported stronger revenue growth of 9.8% mainly attributed to higher sales per draw coupled with an additional draw conducted as compared to the previous year corresponding quarter (i.e. 41 draws versus 40 draws in the corresponding quarter). Its pre-tax profit increased by 47.6% on the back of higher revenue achieved, coupled with lower prize payout during the current quarter under review.
As for H.R. Owen Plc (“H.R. Owen”), its revenue dropped by 5.1% in the current quarter as compared to the previous year corresponding quarter, mainly attributed to lower volume of car sold from new and used car sectors which stemmed from the phasing out of certain models which have come to the end of their product life cycle. However, with the favourable foreign exchange effect, H.R. Owen’s revenue dropped marginally by 0.1% when converted into Ringgit Malaysia, being the reporting currency of the Group. Its pre tax profit was lower at RM17.6 million as compared to RM22.8 million in last year corresponding quarter resulted from higher operating costs and depreciation incurred following the completion and full operation of the Hatfield Centre in May 2023.
Full-Year Results
In the current financial year ended 30 June 2024, SPToto reported revenue of RM6.3 billion, representing an increase of 3.4% over the revenue of RM6.1 billion reported in the previous year. The Group’s pre-tax profit has also increased by 1.2% to RM343.3 million compared to the pre-tax profit of RM339.3 million reported in the previous year, which was mainly attributed to improved performance from STM Lottery but partially offset by the lower results reported by H.R. Owen in the current year under review.
STM Lottery registered revenue and pre-tax profit growth of 4.3% and 29.6% respectively as compared to the previous year despite conducting fewer number of draws in the current year (167 draws versus 175 draws in the previous year). The revenue growth was due to the higher sales per draw driven by the higher accumulated jackpot prizes, whilst the increase in pre-tax profit was aligned with its revenue growth along with lower prize payout during the current year under review.
H.R. Owen’s revenue declined 3.3% in the current year ended 30 June 2024 as compared to the previous year, which was mainly attributed to lower volume of car sold from both new and used car sectors with the phasing out of certain current car models as well as the negative impact of challenging economic conditions in the United Kingdom (“UK”). However, with the favourable foreign exchange effect, it reported an increase in revenue of 5.0% when converted into Ringgit Malaysia, being the reporting currency of the Group. H.R. Owen also reported lower pre-tax profit of RM13.5 million as compared to RM41.2 million in last year. This was mainly attributed to higher operating costs incurred resulted from inflationary pressures coupled with higher depreciation following the completion and full operation of the Hatfield Centre, as well as the impact of UK interest rate hike in the current year under review.
In the current financial year ended 30 June 2024, SPToto reported revenue of RM6.3 billion, representing an increase of 3.4% over the revenue of RM6.1 billion reported in the previous year. The Group’s pre-tax profit has also increased by 1.2% to RM343.3 million compared to the pre-tax profit of RM339.3 million reported in the previous year, which was mainly attributed to improved performance from STM Lottery but partially offset by the lower results reported by H.R. Owen in the current year under review.
STM Lottery registered revenue and pre-tax profit growth of 4.3% and 29.6% respectively as compared to the previous year despite conducting fewer number of draws in the current year (167 draws versus 175 draws in the previous year). The revenue growth was due to the higher sales per draw driven by the higher accumulated jackpot prizes, whilst the increase in pre-tax profit was aligned with its revenue growth along with lower prize payout during the current year under review.
H.R. Owen’s revenue declined 3.3% in the current year ended 30 June 2024 as compared to the previous year, which was mainly attributed to lower volume of car sold from both new and used car sectors with the phasing out of certain current car models as well as the negative impact of challenging economic conditions in the United Kingdom (“UK”). However, with the favourable foreign exchange effect, it reported an increase in revenue of 5.0% when converted into Ringgit Malaysia, being the reporting currency of the Group. H.R. Owen also reported lower pre-tax profit of RM13.5 million as compared to RM41.2 million in last year. This was mainly attributed to higher operating costs incurred resulted from inflationary pressures coupled with higher depreciation following the completion and full operation of the Hatfield Centre, as well as the impact of UK interest rate hike in the current year under review.
Dividend Declaration
The Board of Directors has declared a fourth interim dividend of 2.0 sen per share for the financial year ended 30 June 2024. This dividend, payable on 18 October 2024, amounts to RM27.0 million. The entitlement date has been fixed on 2 October 2024.
With this, the total dividend distribution for the financial year is 10.0 sen per share, amounting to approximately RM134.0 million.
The Board of Directors has declared a fourth interim dividend of 2.0 sen per share for the financial year ended 30 June 2024. This dividend, payable on 18 October 2024, amounts to RM27.0 million. The entitlement date has been fixed on 2 October 2024.
With this, the total dividend distribution for the financial year is 10.0 sen per share, amounting to approximately RM134.0 million.
Future Prospects
stable. The closure of legal Number Forecast Operator outlets in the two Northern states (Kedah and Perlis) will result in the proliferation of illegal operators in these underserved areas. The management will endeavour to develop sustainable business models within legislative guidelines to meet the Group’s economic, environmental and sustainable goals in serving the community and the nation.
The Directors are of the view that despite the subdued growth of the global economy, the Group’s business outlook will remain positive and stable for the financial year ending 30 June 2025.
stable. The closure of legal Number Forecast Operator outlets in the two Northern states (Kedah and Perlis) will result in the proliferation of illegal operators in these underserved areas. The management will endeavour to develop sustainable business models within legislative guidelines to meet the Group’s economic, environmental and sustainable goals in serving the community and the nation.
The Directors are of the view that despite the subdued growth of the global economy, the Group’s business outlook will remain positive and stable for the financial year ending 30 June 2025.
For media enquiries, please contact: Mr. Giam Say Khoon – Deputy General Manager,
Group Corporate Communications at corpcom@berjaya.com.my.