PETALING JAYA: Sports Toto Bhd’s net profit for the fourth quarter ended June 30, 2022 jumped 52% to RM46.41 million from RM30.47 million a year ago attributed to higher sales contributed by its principal subsidiary STM Lottery Sdn Bhd as well as by HR Owen Plc.
The share of profits in the associated companies in the current quarter, as opposed to share of losses in the previous year’s corresponding quarter, has also contributed positively to the group’s results.
It reported a 29.6% increase in revenue to RM1.46 billion from RM1.13 billion in the corresponding quarter of the previous year.
For the full year, the group registered a net profit of RM161.57 million compared with RM181.23 million last year following the lower results reported by STM Lottery.
The group reported an 8.4% increase in revenue to RM5.23 billion from RM4.83 billion in the previous financial year, mainly due to stronger sales registered by HR Owen.
The board has declared a fourth interim cash dividend of 3 sen per share and a share dividend distribution of 11.16 million treasury shares on the basis of 1 treasury share for every 120 existing shares held in respect of the financial year ended June 30, 2022 (FY22). The book cost of the 11.16 million treasury shares is about RM22.62 million which is equivalent to 1.7 sen per share.
The total fourth interim dividend comprising cash and share dividend distribution for FY22 will amount to RM62.8 million. With this, the total dividend distribution for FY22 is RM116.4 million.
As Malaysia transitions towards endemicity and on the pace of economic recovery amidst a challenging environment driven by inflationary pressures, rising interest rates, and geopolitical tensions, the management is cautiously positive and will remain vigilant in monitoring the development of domestic and global economic issues, as well as its resultant impact on the group’s operations and performance.
“The directors are cautiously optimistic that the group’s businesses will remain steadfast with the resilient nature of the number forecast operation (NFO) business, as noted in the past economic crises and turbulent periods. Barring any unforeseen circumstances, the directors are confident that the group will continue to lead in terms of market share in the NFO business for FY23,” it said.
