Berjaya Land”s Q1 pre-tax profit declines to RM102.12 million

Berjaya Land''s Q1 pre-tax profit declines to RM102.12 million

KUALA LUMPUR, September 21  — Berjaya Land Bhd’s pre-tax profit declined to RM102.12 million for the first quarter ended July 31, 2015 from RM132.37 million in the same period a year ago.

However, revenue was higher at RM1.51 billion from RM1.41 billion previously.

In a filing to Bursa Malaysia today, the company said the decrease in pre-tax profit was due to Berjaya Sports Toto Bhd’s (BToto) principal subsidiary, Sports Toto Malaysia Sdn Bhd’s higher prize payout coupled with the absorption of the Goods and Services Tax.

Meanwhile, the higher group revenue was attributed to HR Owen’s additional outlets and higher new car sales volume as well as favourable foreign exchange effects from the group’s various foreign businesses.

On prospects, the company said the gaming business is expected to be challenging as it maintains its market share in the industry.

“The performance of the hotel and resort business is expected to remain satisfactory while the focus of the property development business will be on overseas development projects,” it said.