United States

Analyst Research Report Snapshot


Results Note – Berjaya Sports Toto (ADD, downgrade) - Interim treasury share distribution, bumper cash dividend in sight




Affin Hwang Investment Bank Bhd


18 Dec 2012





Companies referenced:


Available for Immediate Download

1HFY13 core net profit of RM215m is inline with expectations 2QFY13 core net profit rose 6.5% yoy and 10.5% qoq to RM112.6m. This brings 1HFY13 core net profit to RM214.5m - inline with house and street estimates. We project FY13 core net profit of RM425.0m (+5.8% yoy) on the back of flattish revenue/drawday trend and normalised prize payouts. Higher Jackpot prize monies provide room for earnings surprises. As Jackpot games gain punters’ traction (lured by higher prize monies), a deceleration in the growth of the perennial 4D ticket sales is expected. We estimate that in 2QFY13, the 4D segment (accounting for 82% of Group revenue) experienced a 0.5% yoy and 1.8% qoq decline in revenue/drawday.

Why buy analyst research?

  • Institutional quality research
  • Available for Immediate Download
  • Detailed company or industry insight
  • Print or save
  • 24 hour customer support
Return to previous page without adding this item to your cart.
Email Customer Support.

About Analyst Research

Analyst research reports are available for immediate download after purchase. You will have unlimited access to the report for 24 hours after purchase, to download, print or save it as many times as you wish. Analyst Research provided by Reuters does not constitute investment advice, and is not endorsed by Reuters Research. This information is protected by copyright and intellectual property laws. More information on Analyst Research.