Sports Toto almost triples net profit to RM68mil 3Q

KUALA LUMPUR: Sports Toto Bhd expects its business outlook to remain positive and stable for the remaining quarter of the financial year ending June 30, 2024 (FY24).

“The management is cautiously optimistic that the group's business will remain stable. The closure of legal number forecast operation (NFO) outlets in Kedah and Perlis will result in the proliferation of illegal operators in these underserved areas.

“The management will endeavour to develop sustainable business models within legislative guidelines to meet the group's economic, environmental and sustainable goals in serving the community and the nation,” Sports Toto said.

Sports Toto’s net profit almost tripled to RM68.4mil in the third quarter ended March 31 compared with RM23.2mil in the same corresponding quarter last year.

Revenue for the period rose to RM1.69bil against RM1.65bil previously. Earnings per share for the quarter stood at 5.09 sen versus 1.72 sen previously.

In the first nine months to March 31, it posted a marginally lower net profit of RM152.8mil despite a higher revenue of RM4.6bil.

Sports Toto has declared a third interim dividend of 3.0 sen per share in respect of FY24. The dividend will be paid on July 19, with the entitlement date set on June 28.

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