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KUALA LUMPUR: Sports Toto Bhd (SPToto) is cautiously optimistic about the prospects of the number forecast operation (NFO) business in Malaysia.
SPToto anticipates continued per draw sales growth driven by stronger consumer spending, easing inflation rates, and positive momentum in the labour market.
“The management remains vigilant in mitigating potential local political risks and will closely monitor the financial impact of global and local political and economic developments particularly in the countries where the group has operations,” SPToto said.
“The directors are confident that the group’s businesses, particularly the resilient NFO business, will remain encouraging and steadfast. They expect to maintain their lead in terms of market share in the NFO business for the financial year ending June 30, 2024 (FY24), barring any unforeseen circumstances,” it added.
SPToto’s net profit jumped 34.3% to RM62.3mil, or earnings per share of 4.63 sen in the fourth quarter ended June 30 from RM46.4mil, or 3.46 sen in the same quarter last year.
SPToto reported RM1.62bil revenue, up 10.7% from RM1.46bil in the previous year’s corresponding quarter.
The improved results for the current quarter ended June 30 was mainly due to the better performance reported by H.R. Owen Plc but partially set off by lower results from STM Lottery Sdn Bhd.
For FY24, it posted a net profit of RM221.9mil on revenue of RM6.1bil.
SPToto has declared a fourth interim dividend of 2.5 sen per share for FY23.
This dividend, payable on Oct 20, 2023, amounts to RM33.3mil. The entitlement date has been fixed on Oct 2. With this, the total dividend distribution for the financial year is 9.0 sen per share, amounting to RM120.8mil.
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