Sports Toto's Profit, Revenue Drop in Fiscal Q3
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.
