Sports Toto's third-quarter net profit soars 54%
Sports Toto remained optimistic despite ongoing uncertainties and global economic headwinds.
PETALING JAYA: Sports Toto Bhd expects continued growth in its number forecast operations, supported by healthy consumer spending and sustained interest in jackpot games.
'Further, in regard to the closure of legal number forecast operator ( O) outlets in the two Northern states (Kedah and Perlis), we are concerned with the continued encroachment of illegal operators in these underserved areas,' the number forecast operator said in the notes accompanying its financial results.
Sports Toto remained optimistic despite ongoing uncertainties and global economic headwinds, including trade protectionism and inflationary tariffs.
Its board of directors is confident that the company will maintain its leading market share in the O segment.
It also expects its overall business performance to remain encouraging with a positive outlook for the remaining quarter of the financial year ending June 30, 2025 (FY25).
In the third quarter ended March 31, Sports Toto's net profit jumped 54.3% to RM105.6mil, bringing its nine-month net profit to RM196.7mil.
Revenue rose 12.5% to RM1.9bil, lifting its nine-month revenue to RM4.83bil.
Sports Toto said the increase in revenue and rise in profit were mainly attributable to the strong performance of STM Lottery Sdn Bhd as well as improved performance from H.R. Owen.
STM Lottery achieved a stronger revenue growth of 20.8% as compared to the corresponding quarter of the previous year.
This is given that the number of draws remained the same in both quarters.
This was primarily driven by an exceptional surge in the accumulated jackpot from Supreme Toto 6/58 game. Its pre-tax profit rose by 45.8% in the current quarter, as compared to the corresponding quarter of the previous year.
For the quarter ended March 31, H.R. Owen recorded a 14% increase in revenue, mainly driven by higher sales volumes in both the new and used car segments.
H.R.Owen's pre-tax profit increased to RM17.9mil from RM11.3mil in the last year same quarter which aligned with the improved revenue attained.
The board has declared a third interim dividend of two sen per share for FY25.
The dividend will be paid on July 18, with the entitlement date set for June 30. Based on 1.33 billion ordinary shares, the payout will amount to RM26.7mil. This brings the total dividend distribution for the financial period ended March 31 to about RM80.3mil.
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