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Sports Toto's Profit, Revenue Drop in Fiscal Q3

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Sports Toto (KLSE:SPTOTO) posted pre-tax profit of 87.3 million ringgit for the fiscal third quarter ended March 31, down 40.8% from 147.5 million ringgit a year earlier, according to a Monday Malaysian bourse filing.

Shares gained about 2% in Tuesday's afternoon trade.

Revenue for the quarter dropped 20.5% to 1.52 billion ringgit from 1.91 billion ringgit a year prior.

The decline was mainly attributed to STM Lottery, and H.R. Owen, which weighed on overall group performance during the quarter under review.

STM Lottery recorded lower revenue, down 20.5% compared with the previous year's corresponding quarter, while H.R. Owen's revenue eased 17.8% compared with the same quarter last year, mainly due to lower sales volume in both new and used car segments.

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