Magnum net profit of RM221mil-RM251mil seen


  • Business Premium
  • Friday, 14 Feb 2003

MAGNUM Corp Bhd is expected to announce later this month a 2002 net profit of between RM221.3mil and RM251mil, with some brokers seeing pressure on the results from declining sales in the company's numbers forecasting operations (NFO) as a result of competition from illegal betting and the repatriation of foreign workers last year. 

However, Magnum's performance is likely to improve this year, following the government's move to standardise pool betting duty and to raise the prize payout as well as the return of foreign workers, according to analysts.  

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