Author name: Berjaya Corporation

Notwithstanding lower sales in the current quarter under review, the Group’s profit before tax increased by 33.7% to RM96.6 million from RM72.3 million in the corresponding quarter last year, primarily driven by the performance of STM Lottery and reduced investment-related expenses recorded in the current quarter under review.

STM Lottery’s revenue dropped by 4.5% in the current quarter as compared to the corresponding quarter of the previous year, mainly due to lower average sales per draw resulting from lower accumulated jackpot prizes and one (1) less draw conducted during the current quarter, which was 40 draws versus 41 draws in the previous year corresponding quarter. Nevertheless, pre-tax profit increased by 6.9% compared with the corresponding quarter of the previous year, as a result of lower operating expenses incurred during the current quarter.

H.R. Owen’s revenue declined by 6.6% particularly for the new car segment due to transition gaps between new vehicle model launches and challenging economic environment. The softer sales reflected the model mix sold in the relevant quarters. With unfavourable foreign exchange effect, the revenue decreased by 13.6% when translated into Ringgit Malaysia, the Group’s reporting currency. H.R. Owen incurred a pre-tax loss of RM1.6 million for the current quarter under review, compared with a pre-tax profit of RM11.7 million in the corresponding quarter of the previous year, mainly attributable to the lower revenue and margin compression during the current quarter under review.