PETALING JAYA: Sports Toto Bhd
, which reported a 31.3% decline in net profit for the first quarter ended Sept 30, 2024 (1Q25), remains cautiously optimistic that its business will remain stable.
The numbers forecast operator (NFO) said the closure of legal NFO outlets in Kedah and Perlis will result in the proliferation of illegal operators in these underserved areas.
“We are hopeful that the legal due process will prevail, thus allowing STM Lottery Sdn Bhd to re-establish its presence in these states.”
Sports Toto posted a net profit of RM41.3mil, or earnings per share (EPS) of 3.06 sen in 1Q25, compared with RM60.2mil or EPS of 4.52 sen in the same quarter last year. Revenue fell to RM1.44bil against RM1.59bil a year prior.
The drop in revenue and profit was mainly due to lower results reported by STM Lottery and H.R. Owen Plc.
“Despite the uncertainties and amidst headwinds in the global economy, the directors are of the view that the group’s business outlook will remain positive and stable for the remaining quarters of the financial year ending June 30, 2025,” Sports Toto said.
