KUALA LUMPUR: Berjaya Sports Toto Bhd (BToto) posted lower net profit of RM134.24mil in the financial year ended June 30,2020 as it was impacted by losses in the fourth quarter due to the implementation of the lockdown measures.
It reported on Tuesday its revenue of RM4.65bil was mainly contributed by sales from Sports Toto and H.R. Owen.
“The group's results were negatively impacted by the implementation of the lockdown measures by the various countries which affected the operations of its main subsidiaries, ” it said.
BToto said Sports Toto cancelled 40 draws from March 18 to June 16,2020 upon the imposition of the movement control order (MCO) by the Malaysian Government, and only resumed operation on June 17.
As for H.R. Owen, it shut down its operation for more than two months in compliance with the UK government's lockdown order from March 23 to May 31.
BToto said for the previous 14-month period ended June 30,2019, it posted revenue of RM6.69bil and pre-tax profit of RM394.30mil, mainly due to revenue and profit achieved by Sports Toto and H.R. Owen.
“However, the pre-tax profit was partly offset by impairment of goodwill and assets of the disposal group, namely Philippine Gaming Management Corporation (PGMC), ” it said.
PGMC was classified as discontinued operation in the previous 14-month period ended June 30,2019 and it is now a 39.9% associated company of the group.
In the fourth quarter ended June 30,2020, BToto reported revenue of RM475.1mil and loss before tax of RM45.5mil as its business operations were adversely affected by the Covid-19 pandemic. Loss per share was 3.23 sen.
BToto said due to the adverse impact caused by the lockdown measures, the group has undertaken certain austerity measures to mitigate the operating losses.
It rewarded shareholders with a third interim share dividend of one treasury share for every 100 existing ordinary shares.
Based on the ordinary shares in issue with voting rights as at Monday of 1.34 billion, the share distribution will require 13.37 million treasury shares.
“The book cost of the 13.37 million treasury shares is about RM31.8 million and thus, the third interim dividend per share amounts to approximately 2.4 sen per share. The entitlement date has been fixed on Sept 24, ” it said.
BToto said for FY 2020, the total cash and share dividend distribution will be equivalent to 10.4 sen per share or about RM139.6mil, which is about 104.0% of the group's net profit for FY20.
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