This was on the back of a 4.9% lower revenue at RM1.38bil from RM1.45bil previously, mainly due to reduced revenue from H.R. Owen Plc during the quarter under review, as well as the recognition of substantial project contract sales by International Lottery & Totalizator Systems, Inc in the previous year
PETALING JAYA: CIMB Research has downgraded its recommendation on Berjaya Sports Toto Bhd
(BToto) to “hold” from add, as the number forecast operator’s (NFO) share price nears the brokerage’s target price.
CIMB Research’s target price for BToto stood at RM2.62 based on its dividend discount model (DDM). Despite the downgrade in recommendation, the brokerage said it expected BToto should gain share price support from its strong 6.1% dividend yield.
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