Berjaya Land returns to the black in Q1 with RM8.4mil net profit


KUALA LUMPUR: Berjaya Land Bhd (BLand), which returned to the black in the first quarter ended Sept 30 (1Q23), is cautiously optimistic of a satisfactory performance for the remaining quarters of the financial year ending June 30, 2023 (FY23).

“The directors are cautiously optimistic that the performance of the business operations of the group for the remaining quarters of the FY23 to be satisfactory, despite having to bear the rising operating costs going forward,” BLand said in the notes accompanying its financial results.

BLand posted a net profit of RM8.45mil in 1Q23 against a net loss of RM74.3mil in the same corresponding quarter a year ago due to higher revenue

It posted earnings per share of 0.17 sen during the quarter from a loss per share of 1.51 sen last year.

Revenue surged 77.35% to RM1.71bil from RM963.04mil last year.

BLand said the higher revenue was mainly due to its gaming business segment operated by STM Lottery Sdn Bhd which reported an increase in revenue of 844.7% mainly due to a higher number of draws conducted.

The group also reported higher overall occupancy rates reported by the hotels and resorts business segment during the quarter under review quarter as well as higher property progress billings reported by the property development and investment business segment from its project at The Tropika, Bukit Jalil and higher new car sales reported by H.R. Owen.

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Berjaya Land , BLand , gaming

   

Next In Business News

Acquisitions brighten Axiata outlook
HLB posts RM981mil Q1 net profit
MyEG net profit doubles to RM150.7mil in Q3
Apple to lose six million iPhone Pros from tumult at China plant
Bursa Malaysia unveils Shares2share scheme
New policies to stabilise real estate financing
Bank Negara expected to further tighten policy
PETRONAS Carigali finalises Kasawari project
Capital A seeks extra time
RHB records 3Q net profit of RM700.48mil

Others Also Read