KUALA LUMPUR (Feb 21): Sports Toto Bhd’s (KL:SPTOTO) net profit for the second quarter ended Dec 31, 2024 (2QFY2025) rose more than double to RM49.67 million, compared to the corresponding quarter's results of RM24.22 million, driven by the performance of STM Lottery Sdn Bhd and HR Owen plc.

According to a bourse filing on Friday, STM Lottery experienced an improvement in average sales per draw and higher accumulated jackpot prizes in Lotto games while HR Owen's sales growth was driven by a positive demand within the used car sector, reflecting the mix of sales volume and increased average selling price.

Sports Toto’s basic earnings per share rose to 3.68 sen from 1.83 sen. The board declared a second interim dividend of two sen per share, payable on April 19, 2025.
 
Revenue for the quarter increased by 8% to RM1.48 billion, from RM1.37 billion in the corresponding quarter.  
 
Meanwhile, for the cumulative six-month period (1HFY2025), Sports Toto reported a 7.85% rise in net profit to RM91.01 million despite registering slightly lower revenue of RM2.92 billion compared with RM2.96 billion in the corresponding period.  
 
This is despite STM Lottery reporting a 1.9% decline in revenue during the period, mainly due to the lower number of draws conducted, which was 81 draws versus 84 draws in the previous year’s corresponding period.  
 
“In regard to the closure of legal NFO outlets in Kedah and Perlis, we are hopeful that the legal due process will prevail, thus allowing STM Lottery to re-establish its presence in these states,” Sports Toto said in a statement.
 
“Despite the prevailing uncertainties and global economy headwinds including trade policies impact, inflationary trends and regional growth disparities, the business will grow steadily,” it added.
 
Sports Toto closed two sen or 1.3% lower at RM1.56 on Friday, valuing the company at RM2.11 billion.