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Berjaya Sports Toto fiscal Q1 profit falls YOY

Berjaya Sports Toto Bhd. said its normalized net income for the fiscal first quarter ended July 31 amounted to 5 Malaysian sen per share, a decrease of 20.3% from 7 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 72.3 million ringgits, a decrease of 19.9% from 90.2 million ringgits in the year-earlier period.

The normalized profit margin dropped to 5.8% from 10.2% in the year-earlier period.

Total revenue increased 40.2% on an annual basis to 1.24 billion ringgits from 887.1 million ringgits, and total operating expenses rose 51.4% from the prior-year period to 1.12 billion ringgits from 738.3 million ringgits.

Reported net income decreased 20.7% year over year to 78.3 million ringgits, or 6 sen per share, from 98.8 million ringgits, or 7 sen per share.

As of Sept. 19, US$1 was equivalent to 3.23 ringgits.