Sports Toto Reports Significant Profit Increase and Declares Dividend

Sports Toto Bhd has been a stand-out performer, with a 54.3% net profit increase. They reported a net profit of RM105.6 million for the third quarter ending 31 March. While this is an undeniably strong performance, it’s just a testament to the company’s ability to weather a still-mighty inflationary storm. For the nine-month period, Sports Toto returned a net profit of RM196.7 million, further highlighting Sports Toto’s solid financial standing.

The firm reported an amazing 12.5% increase in revenue to RM1.9 billion during its third quarter. This marvelous growth was mainly due to the stellar results achieved by STM Lottery Sdn Bhd and improved performance at H.R. Owen. For the nine months, Sports Toto’s total revenue came in at RM4.83 billion, illustrating a strong bullish trajectory.

Threatened by global economic currents like trade protectionism and inflationary tariffs, Sports Toto nevertheless is hopeful about its future. The company is confident it can keep producing strong results even as uncertainty rains.

Sports Toto staved off the news cycle with lightning speed. They sounded the alarm over the increased dangers posed by the lack of legal operators in underserved constituencies, particularly after the culling of legal NFO outlets in Kedah and Perlis.

“Further, in regard to the closure of legal NFO outlets in the two Northern states (Kedah and Perlis), we are concerned with the continued encroachment of illegal operators in these underserved areas,” – Sports Toto Bhd

Sports Toto is basking in its stellar performance by announcing a third interim dividend. Correspondingly, shareholders will be rewarded with 2.0 sen per share for FY25. The payout, equivalent to 1.95 sen/share, is based on 1.33 billion ordinary shares outstanding. The dividend will be paid on July 18, with an entitlement date of June 30.

As Sports Toto navigates through these challenging times, its significant profit increase and strategic decisions reflect a commitment to maintaining shareholder value and addressing market dynamics effectively.