KUALA LUMPUR (Aug 20): Berjaya Sports Toto Bhd reported a net profit of RM30.47 million for its fourth quarter ended June 30, 2021 (4QFY21), compared with a net loss of RM43.27 million a year earlier, as its number forecast operations saw a significant jump in the number of draws conducted compared to 4QFY20.

Quarterly revenue rose to RM1.13 billion, about 2.4 times the RM475 million it made a year ago, its bourse filing showed.

Compared with the immediate preceding quarter of 3QFY21, BToto's net profit grew 63.13% from RM18.68 million, while revenue increased from RM1.12 billion. No dividend was declared for the quarter.

The improved earnings came from better results reported by its subsidiaries Sports Toto Malaysia Sdn Bhd and HR Owen Plc, BToto said.

Its principal subsidiary Sports Toto reported a 4QFY21 pre-tax profit as opposed to a pre-tax loss in 4QFY20, as it achieved a significant increase in revenue due to there being 28 draws conducted in 4QFY21, as compared to six in 4QFY20.

Still, the implementation of the various Movement Control Orders (MCO) this year caused Sports Toto to cancel 15 draws in 4QFY21; 34 draws were cancelled in 4QFY20 when MCO 1.0 was enforced.

Meanwhile, its UK luxury auto retailing business HR Owen’s revenue saw a 72.4% jump to RM661.4 million from RM383.6 million in 4QFY20, which led it to report a pre-tax profit of RM25.2 million, versus a pre-tax loss of RM13.2 million previously — when HR Owen's operations were shut for over two months to comply with the UK’s lockdown to curb the spread of Covid-19.

For its full-year ended June 30, the group's net profit climbed 37.2% to RM182.06 million from RM132.7 million in FY20, as revenue rose to RM4.83 billion from RM4.64 billion.

Going forward, the group said it expects challenges as the Covid-19 pandemic remains fluid and uncertain, which means the group could be affected by the reimposition of different stages of lockdown by the respective governments in which its subsidiaries operate.

Nevertheless, it is cautiously optimistic that its businesses will gradually recover In Malaysia, where the government has been ramping up its vaccination rate and launched the National Recovery Plan.

“The directors are also confident that Berjaya Sports Toto will continue to maintain its market share in the NFO business for the financial year ending June 30 2020, when businesses are allowed to operate under the new normal of living with the Covid-19 virus,” it added.

BToto's share price closed two sen or 1.03% higher at RM1.97 today, valuing the group at RM2.66 billion.