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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.
New Straits Times
30-04-2025
- Business
- New Straits Times
DXN share price up after posting higher net profit
KUALA LUMPUR: DXN Holdings Bhd's share price rose in the morning trading session after it posted higher net profit for the financial year ended Feb 28, 2025 (FY2025). At 10.09 am, the global health-oriented and wellness direct selling company's share price was half-a-sen up to 51 sen, with 2.01 million shares changing hands. DXN Holdings' net profit for FY2025 rose to RM329.03 million compared to RM310.99 million previously while revenue increased 5.8 per cent to RM1.91 billion from RM1.80 billion previously, according to a filing with Bursa Malaysia. In the fourth quarter (4Q) of FY2025, its net profit rose to RM84.72 million compared to RM79.02 million previously, while revenue decreased to RM458.90 million from RM470.64 million previously. RHB Investment Bank Bhd said DXN Holdings' FY2025 results met its expectations with solid growth in key markets and efficiency gains which more than offset the impact of unfavourable foreign exchange. "Valuation is highly attractive considering the effective business model, Brazil's expansion as a medium-term growth driver, and sturdy balance sheet to facilitate a generous dividend payout," it said in a note today. For outlook, it said DXN's earnings growth will be supported by the relentless growth momentum in major markets. "The core strategies of recruiting new members and enhancing their productivity levels will continue to revolve around member engagement, complemented by quality new product launches. "Meanwhile, the recent capacity expansion should help capture the rising demand and roll out new product categories to broaden the addressable markets," it said. On top of that, it look forward to the results of the entry to Brazil, leveraging on DXN's established existing network in the Latin American region.
