• Malaysia stock market and companies daily report (September 18, 2015)

    - Despite recording a 7.7 percent jump in revenue to RM1.3 billion for 1Q16, attributable to increased contribution form HR Owen, Berjaya Sports Toto’s net profit fell 7.5 percent to RM72.5 million, impacted by the performance of its lottery business.

    - Sports Toto, the group’s principle subsidiary, recorded a 23.6 percent decline in pre-tax profit that weighed on overall bottom line, due to higher prize payout coupled with the Malaysian goods and services tax expenses absorbed.

    - For the quarter, the company has declared an interim dividend of RM0.05 (1Q15: RM0.055), which consists of RM0.025 cash dividend per share and a share dividend of RM0.25 per share.

    Significance: In a separate note, Hong Leong IB Research has maintained its ‘Hold’ rating on the stock and lowered its target price from RM3.59 to RM3.21 as it lowers earnings forecasts for the firm in view of the lower than expectation result and a challenging operating environment.

    Contributed by Shares Investment
About us
StockMarketsReview.com provides news coverage, analysis and researches for world stock markets, commodities and currencies. We publish articles provided by experts of leading brokerage and investment companies. At our website investors can find daily, weekly and monthly reports, news, recommendations on the IPOs and fundamental analysis for stocks which are currently traded at the stock exchange.