Latest news with #HROwen
The Sun
01-06-2025
- Business
- The Sun
Berjaya Corp registers revenue of RM2.54 billion for third quarter of FY25
PETALING JAYA: Berjaya Corporation Bhd (BCorp) recorded revenue of RM2.54 billion and a pre-tax loss of RM8.88 million for the third quarter ended March 31, 2025 (Q3'25) compared to revenue of RM2.78 billion and a pre-tax profit of RM773.66 million in the corresponding quarter of the previous year. In Q3'25, the retail (non-food) business reported higher revenue, mainly driven by the strong performance of HR. Owen Plc. The increase was attributed to the higher sales volume in both the new and used car sectors. Sales from the new marque, Lotus, which is now represented by HR Owen, contributed to the revenue growth, and the launches of certain new models further supported the improved performance in the quarter. However, when translated into ringgit, the group's reporting currency, revenue growth was dampened by the unfavourable impact of foreign exchange effect. The non-food retail business segment reported a higher pre-tax profit, primarily attributable to HR Owen's improved performance, in line with the increased revenue achieved in the quarter under review. HR Owen's positive performance offset lower results from Cosway's operations, which were impacted by the closure of non-performing stores in certain countries. The retail (food) business reported lower revenue in Q3'25 due to a reduced number of Starbucks cafes in operation compared to the previous year's corresponding quarter, as well as the cessation of Papa John's Pizza operations in the Philippines. A higher pre-tax loss was reported by this business segment in the third quarter of FY25, due to the weaker performance of Kenny Rogers Roasters operations and additional preoperating costs incurred for the group's new overseas operations. The property segment reported a decline in revenue for Q3'25, due to the completion of The Tropika, Bukit Jalil project in the final quarter of the previous financial year. However, this decline was mitigated by higher sales of residential units from a local project. Additionally, the corresponding quarter of the previous year included sales from an overseas residential project. The hospitality segment reported higher revenue in the third quarter of the current financial year mainly due to an increase in overall average occupancy rate, but a higher pre-tax loss, from higher operating expenses. The services segment reported higher revenue in Q3'25, primarily driven by the gaming business operated by STM Lottery Sdn Bhd. STM Lottery recorded stronger revenue growth compared to the corresponding quarter of the previous year, given that the number of draws remained the same in both quarters. The improvement in sales was mainly attributed to an exceptional surge in the accumulated jackpot from the Supreme Toto 6/58 game. The higher revenue from STM Lottery offset lower revenue recorded by the managed telecommunications network services (MTNS) business, as well as the deconsolidation of Naza Enviro Holdings Sdn Bhd and Singapore Institute of Advanced Medicine Holdings Ltd (SIAMH). The higher pre-tax profit in the gaming business operated by STM Lottery was primarily driven by a combination of higher sales and lower prize payouts in the quarter under review. For the nine-month period ended March 31, 2025 (9M25), the group registered revenue of RM6.97 billion and a pre-tax loss of RM149.47 million compared to revenue of RM7.58 billion and pre-tax profit of RM751.65 million in the previous year's corresponding period. For the nine-month period of FY25, the retail segment's food retail business reported lower revenue and a pre-tax loss due to the prolonged impact of ongoing sentiment related to the Middle East conflict, which affected the market dynamics and influenced consumer spending patterns. However, higher revenue was reported by the non-food retail business, mainly due to higher revenue contributions from HR Owen, supported by optimistic demand from the used car sector, as well as contributions from the new marque, Lotus, which is now represented by HR Owen during the financial period. However, the unfavourable foreign exchange effect resulted in a more modest increase in revenue when translated into ringgit. The higher revenue from non-food retail business offset the lower revenue from Cosway's operations. The non-food retail business reported a pre-tax profit contributed by Cosway operations due to the closure of non-performing stores in certain countries and reduced operating costs. The improvement was further supported by a higher gross profit margin, driven by a more favourable product mix. The property segment reported lower revenue and a pre-tax loss in the nine-month period, primarily due to the completion of The Tropika, Bukit Jalil project. The decline was mitigated by the higher sales of residence units from a local project in the current period under review. Additionally, the corresponding period in the previous year had included sales of residential units from an overseas project. Meanwhile, the hospitality segment reported higher revenue and a higher pre-tax profit, mainly attributed to the higher overall occupancy rate. The service segment posted higher revenue contribution, primarily from STM Lottery despite fewer draws conducted in the nine-month period (123 draws versus 126 draws in the previous year's corresponding period). The growth was primarily driven by a surge in tickets sales of the Supreme Toto 6/58 game, following an exceptional increase in its accumulated jackpot. The higher revenue from STM Lottery offset the deconsolidation effects of NEH and SIAMH. The segment reported a higher pre-tax profit mainly due to higher revenue achieved coupled with a lower prize payout by STM Lottery. On future prospects, BCorp said Malaysia's economic growth is expected to be driven by strong domestic demand and the moderation of average inflation rate despite the uncertainties arising from geopolitical tensions and the inflationary tariffs being imposed by the US government. The group will monitor the prevailing global and local political development in the countries where the group has business operations. The performance of the domestic business segments of the group is expected to improve on the back of strong consumer spending and improvement in tourism-related activities. As for the gaming business, it is expected to continue its growth trajectory, in line with the ongoing popularity of its lotto and digit games to achieve commendable results. Taking account of the above and barring any unforeseen circumstances, BCorp directors are cautiously optimistic that the group's business operations will deliver a satisfactory performance for the remaining quarter of the financial year ending June 30 2025.
Malay Mail
31-05-2025
- Business
- Malay Mail
Berjaya Corp's Q3 net loss hits RM92.34m, hospitality and retail weigh on earnings
KUALA LUMPUR, May 31 — Berjaya Corporation Bhd (BCorp) posted a net loss of RM92.34 million in the third quarter ended March 31, 2025 (3Q) compared with a net profit of RM689.92 million in 3Q a year ago due to losses in the property, hospitality, and retail food segments. In a Bursa Malaysia filing today, it said revenue decreased to RM2.54 billion from RM2.78 billion previously, mainly due to lower contributions from the property and retail food segments. The food retail business reported a higher pre-tax loss in the current quarter, mainly due to the weaker performance of Kenny Rogers Roasters operations and additional pre-operating costs incurred for the group's new overseas operations. 'However, the non-food retail business reported a higher pre-tax profit, mainly driven by the strong performance of H.R. Owen Plc, in line with the increased revenue achieved in the current quarter. 'This improvement offset the lower results from Cosway operations, as a result of the closure of non-performing stores in certain countries,' it said in a separate statement. The hospitality segment reported higher pre-tax loss mainly due to higher operating expenses incurred in 3Q of its financial year ending June 30, 2025 (FY2025). 'The lower revenue reported by the food retail business was mainly due to a reduced number of Starbucks cafes in operation compared to the previous year's corresponding quarter, as well as the cessation of Papa John's Pizza operations in the Philippines during the current quarter,' it said. In addition, it said the property segment reported lower revenue mainly due to the completion of The Tropika, Bukit Jalil project in the final quarter of the previous financial year. 'However, this decline was mitigated by higher sales of residence units from a local project in the current quarter under review,' it said. For the cumulative nine-month period, the group posted a net loss of RM348.87 million compared with a net profit of RM580.23 million previously, while revenue declined to RM6.97 billion from RM7.58 billion previously. On prospects, BCorp said the group will monitor the prevailing global and local political developments in countries where it has business operations. 'Meanwhile, the performance of the domestic business segments of the group is expected to improve on the back of strong consumer spending and improvement in tourism activities. 'The directors are cautiously optimistic that the performance of the business operations of the group for the remaining quarter of FY2025 to be satisfactory,' it said. — Bernama
New Straits Times
30-05-2025
- Business
- New Straits Times
BCorp logs RM92.34mil loss, lower RM2.54bil revenue in Q3
KUALA LUMPUR: Berjaya Corp Bhd (BCorp) posted a net loss of RM92.34 million in the third quarter (Q3) ended March 31 2025 from a net profit of RM689.92 million a year ago. This was on the back of a revenue of RM2.54 billion, down from RM2.78 billion in the corresponding quarter of 2024. For nine months, BCorp logged RM348.87 million net loss from a net profit of RM580.23 million previously. Group revenue was lower at RM6.97 billion from RM7.58 billion a year go. No dividend was declared for the quarter. The group said its retail (non-food) business reported higher revenue in Q3, mainly driven by the strong performance of H.R. Owen Plc (HR Owen). This was attributed to the higher sales volume in both the new and used car sectors. Sales from the new marque, Lotus, which is now represented by HR Owen, contributed to the revenue growth, and the launches of certain new models further supported the improved performance in the current quarter. However, when translated into ringgit, the group's reporting currency, revenue growth was dampened by the unfavourable impact of foreign exchange effect. The non-food retail business segment reported a higher pre-tax profit, primarily attributable to HR Owen's improved performance, in line with the increased revenue achieved during the current quarter under review. HR Owen's positive results offset the lower results from Cosway's operations, which were impacted by the closure of non-performing stores in certain countries. Its retail (food) business reported a lower revenue due to a reduced number of Starbucks cafes in operation compared to the previous year's corresponding quarter, as well as the cessation of Papa John's Pizza operations in the Philippines during the current quarter. A higher pre-tax loss was reported by the business segment in the current quarter, due to the weaker performance of Kenny Rogers Roasters operations and additional pre-operating costs incurred for the group's new overseas operations. BCorp's property segment reported a decline in revenue for the current quarter, due to the completion of The Tropika, Bukit Jalil project in the final quarter of the previous financial year. However, this was mitigated by higher sales of residential units from a local project in the current quarter under review. Additionally, the corresponding quarter of the previous year included sales from an overseas residential project. BCorp expects the performance of its domestic business segments to improve on the back of strong consumer spending and improvement in tourism-related activities. As for the gaming business, it is expected to continue its growth trajectory, in line with the ongoing popularity of its Lotto and Digit games to achieve commendable results. "Taking account of the aforesaid and barring any unforeseen circumstances, the directors are cautiously optimistic that the group's business operations will deliver a satisfactory performance for the remaining quarter of the financial year ending June 30 2025," it said.
The Sun
20-05-2025
- Automotive
- The Sun
Sports Toto posts higher Q3, nine-month revenue and pre-tax profit, declares 2 sen interim dividend
PETALING JAYA: Sports Toto Bhd (SPToto) reported revenue of RM1.91 billion for the third quarter ended March 31, 2025, a climb of 12.5% over revenue of RM1.69 billion in the previous year's corresponding quarter. The group registered RM147.5 million pre-tax profit, a commendable improvement of 45.7% from the pre-tax profit of RM101.2 million in the corresponding quarter of the previous year. The improved results for the quarter ended March 31, 2025 was mainly due to the strong performance of STM Lottery Sdn Bhd and improved performance of HR Owen Plc. STM Lottery's current quarter revenue was higher by 20.8% despite the number of draws that remained the same as in the corresponding quarter of the previous year (42 draws). This was primarily driven by an exceptional surge in the accumulated jackpot from the Supreme Toto 6/58 game. Aligned with the higher revenue achieved and further supported by a lower prize payout, its pre-tax profit rose by 45.8% in the current quarter, as compared to the corresponding quarter of the previous year. HR Owen's current quarter revenue raised by 14% when compared to the previous year's corresponding quarter mainly attributed to higher sales volumes in both new and used car sectors. Sales from the new marque, Lotus, which is now represented by the company contributed to the revenue increase, while the launches of certain new models also supported the improved performance in this quarter. When converted into ringgit, the revenue growth was only 6.9% due to the unfavourable foreign exchange effect. HR Owen's pre-tax profit increased to RM17.9 million from RM11.3 million in the last year same quarter which aligned with the improved revenue attained. For the nine-month period ended March 31, 2025, SPToto reported revenue of RM4.83 billion, an increase of 3.7% over the revenue of RM4.66 billion reported in the previous year's corresponding period, mainly driven by the both STM Lottery and HR Owen. Pre-tax profit saw an increase of 24.8% to RM298.5 million from RM239.1 million in the corresponding nine-month period of the previous year. STM Lottery reported revenue growth of 6%, despite fewer number of draws conducted in the current period under review (123 draws versus 126 draws in the previous year corresponding period). The growth was primarily driven by a sudden surge in ticket sales from the Supreme Toto 6/58 game when its accumulated jackpot grew exceptionally in the period. In tandem with the revenue growth coupled with lower prize payout, its pre-tax profit increased by 23.6% in the period under review. HR Owen reported an increase in revenue of 6.8% compared to the previous year's corresponding period, supported by optimistic demand from the used car sector as well as contribution from the new marque, Lotus, which is now represented by the company. However, the unfavourable foreign exchange effect resulted in a more modest revenue increase of 2.3% when converted into ringgit. It reported a lower pre-tax loss of RM1.4 million compared to a pre-tax loss of RM4.1 million in the previous year's corresponding period, mainly attributed to the revenue growth as well as lower finance cost incurred following the interest rate reduction in the UK. The board has declared a third interim dividend of 2 sen per share, amounting to about RM26.7 million for the financial year ending June 30 2025. The dividend is payable on July 18 and the entitlement date is fixed on June 30. With this, the total dividend distribution for the financial period ended March 31, 2025 is about RM80.3 million. The directors remain cautiously optimistic that the group's business will remain stable and resilient. The number forecast operation (NFO) business is expected to continue its upward trajectory of per draw sales growth driven by favourable consumer spending and continued consumer interest in the jackpot games. Further with regard to the closure of legal NFO outlets in the two northern states (Kedah and Perlis), the directors are concerned with the continued encroachment of illegal operators in these underserved areas. Despite the prevailing uncertainties and global economy headwinds including trade protectionism and the inflationary tariff impact, the directors are confident that the group will continue its lead in terms of the market share in NFO market and the group's businesses are expected to be encouraging and maintain a positive outlook for the remaining quarter of financial year ending June 30, 2025.
Telegraph
28-02-2025
- Automotive
- Telegraph
UK's rarest cars: 1976 Panther Rio Especial, one of only six left
At first sight, Peter Mayo's Especial Automatic resembles an intriguing combination of a Triumph Dolomite Sprint and a Rolls-Royce Silver Shadow. In part, this was the intention of its manufacturer, Panther Westwinds, as the Rio was meant to offer a more economical alternative to a Rolls. Today, only six are believed to survive – and the model represents one of the most offbeat chapters in the Dolomite story. The Rio dates from 1974, when luxury-minded Panther's founder, Robert Jankel, and his co-director, David Franks, decided a 2.0-litre 'town car' would be the ideal product for a post-fuel-crisis world. They chose the Dolomite as its basis due to its engineering and slightly formal appearance. Within nine weeks of a new Triumph arriving at its works in West Byfleet, Surrey, Panther built the first Rio, which had a formal launch in 1975. All the hand-beaten aluminium alloy body panels were unique to the Rio, while Panther also altered the Dolomite's roofline. The Rio's headlights and front indicators were from the Ford Granada and the tail-lights from the Triumph TR6, while many of the switches were from the Jaguar XJ Series 2. The interior had less space than the Dolomite thanks to its well-upholstered seats, although Jankel believed the upright driving position had a limousine-like dignity. The proud owner further gained thick pile carpeting, extra soundproofing, Sundym tinted glass, a radio cassette player, Connolly Luxan hide trim, a burr-walnut-veneer fascia and electric windows. The detailing included an ashtray incorporating a cigar lighter on all four doors, along with alloy wheels featuring a Union flag on the hub. As for the new grille, it was vaguely reminiscent of a Rolls-Royce, albeit from a distance. Panther offered two versions: the Standard was based on the Dolomite 1850, while the Especial was derived from the sportier Sprint model of the Triumph saloon. Mayo's car also features the optional air-conditioning system: 'It still works,' he says. The company planned for upmarket car dealership chain HR Owen to distribute the Rio, in whose showrooms the Panther would serve as a miniature option to the Rolls-Royce Silver Shadow. In theory, the Rio was a viable proposition. It followed the tradition of customised Mini Cooper town cars of the 1960s from the likes of Radford, while the 1973 fuel crisis had made a significant impact upon the sales of large-engined saloons. Jankel was also keen to ensure that Panther was not known only as 'the company that builds old-fashioned motor cars' such as the De Ville, with its quasi-Bugatti Royale lines. In October 1975, Autocar reported that HR Owen had 'ordered 100 of the new Panther Rio models with the first three months' production already sold'. The sales copy modestly claimed that 'the Rio combines characteristics combined in no other single car', with 'superb handling, a 115mph maximum speed and 0-60mph acceleration in 8.7 seconds'. Unfortunately, there proved to be limited demand for the Rio. One challenge was that the Panther representing 'handcrafted exclusivity without ostentation' still bore too great a similarity to the more prosaic Dolomite. Michael Foster, the managing director of Avis Rent-a-Car, thought the Rio looked like 'a high-speed Humber Sceptre', which he did not intend as a compliment (the Mk3 version of the Sceptre, produced from 1967 to 1976, was effectively a humble Hillman Hunter). A further problem was British Leyland's high-profile issues having an impact upon all its products, although the greatest challenge was probably that the Rio was phenomenally expensive. Jankel was obliged to purchase Dolomites from BL at full price, which helped inflate the Especial's cost in late 1976 to £9,445. This did not compare favourably with the Ford Granada Ghia at £4,602 or the £5,130 Rover SD1 3500. Even a Daimler Double-Six was less expensive than the Rio, at £9,059. Unsurprisingly, a mere 38 Rios left the Panther factory between 1975 and 1977; this is the penultimate example. It joined the Mayo fleet of Panthers, which includes a yellow-and-white standard version, two De Villes, a J72, a Kallista and a Lima, in 2018. 'I find people either love it or hate it when I take the Rio to shows,' he says. Mayo believes the main problem was that Panther made the Rio for the non-existent 1970s ultra-expensive compact-car sector. In 2025, his Especial still retains a sense of glamour. It is a car that should be parked outside a West End casino in The Professionals or a Joan Collins film. And with a box of After Eight mints in the glove compartment.
