KUALA LUMPUR: Sports Toto Bhd
, which saw its net profit grow 8.4% in the fourth quarter ended June 30 (4Q24), is cautiously optimistic that the group's business will remain stable.
The number forecast operator (NFO) posted a net profit of RM67.6mil in 4Q24 compared with RM62.3mil in the year-ago quarter.
Revenue climbed 2.06% to RM1.65bil against RM1.625bil last year while earnings per share rose to 5.01 sen versus 4.63 sen a year ago.
Sports Toto said the improved results were mainly due to the better performance reported by the group’s principal subsidiary company, STM Lottery Sdn Bhd.
For the full year ended June 30, Sports Toto reported a marginally lower net profit of RM220.4mil, while revenue increased to RM6.3bil.
The group has declared a fourth interim dividend of 2.0 sen per share for FY24. This dividend, payable on Oct 18, amounts to RM27mil. The entitlement date has been fixed on Oct 2.
Sports Toto noted that the closure of legal 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,” it said in a statement.
“The directors are of the view that despite the subdued growth of the global economy, the group's business outlook will remain positive and stable for FY25,” it added.
