Magnum 1Q net profit slips to RM55.59mil, warns of weaker quarter ahead

KUALA LUMPUR: After experiencing a decline in its first quarter earnings, Magnum Bhd is expecting the full impact of the Covid-19 pandemic to hit in the coming quarter.

The group announced today that net profit for the first quarter ended March 31, 2020, slid 7% to RM55.59mil versus the previous corresponding quarter on the back of lower revenue from gaming sales. The group declared a first interim dividend of 2.5 sen per share payable on June 26, 2020.