Berjaya Land's 3Q net profit up sevenfold
KUALA LUMPUR: Berjaya Land Bhd (BLand) is cautiously optimistic about the group's business operations performing satisfactorily for the rest of the financial year ending June 30, 2024.

“The performance of the domestic business segments of the group is expected to improve on the back of strong consumer spending and improvement in tourism activities.

“As for the gaming business, the closure of legal number forecast operator (NFO) outlets in Kedah and Perlis will result in the proliferation of illegal operators in these underserved areas,” BLand said in the notes accompanying its financial results.

The group said it will monitor the prevailing global and local political development in the countries where the group has business operations.

In the third quarter ended March 31, BLand’s net profit surged to RM29.3mil, or earnings per share of 0.60 sen against RM4.05mil, or 0.08 sen achieved in the same period last year.

Revenue grew to RM1.95bil from RM1.93bil a year prior, mainly due to the higher revenue reported by STM Lottery Sdn Bhd primarily due to higher sales per draw coupled with an additional draw conducted in the current quarter (42 draws versus 41 draws in the previous year corresponding quarter).

In addition, hotels and resorts business segment also reported higher revenue due to higher overall average room rate and higher overall occupancy rate during the current quarter under review with the rise in tourist arrivals, boosted by visa exemption for certain countries.

In the first nine months to March 31, it posted a net loss of RM10.3mil against a net profit of RM96.9mil while revenue grew 5.85% to RM5.6bil from RM5.3bil last year.
Corporate News,Berjaya Land,BLand,NFO
KUALA LUMPUR: Berjaya Land Bhd (BLand) is cautiously optimistic about the group's business operations performing satisfactorily for the rest of the financial year ending June 30, 2024.