Berjaya Corp posts RM2.08b revenue in second quarter

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Berjaya Corp posts RM2.08b revenue in second quarter 1

PETALING JAYA: Berjaya Corp Bhd (BCorp) registered a revenue of RM2.08 billion in the second quarter ended Dec 31, 2019, substantially contributed by the gaming business segment operated by Sports Toto Malaysia Sdn Bhd from its strong 4D Jackpot sales, and the motor distribution business segment operated by HR Owen Plc.

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The group reported a pre-tax loss of RM61.66 million in the current quarter under review mainly due to operating expenses incurred by the overseas and local property projects, further impairment on the balance of Berjaya (China) Great Mall Co Ltd (GMOC) sales proceeds in anticipation of the delay in the recovery proceedings, and also impairment of certain property, plant and equipment.

The group, however, reported a profit from operations in the current quarter mainly contributed from gaming operations.

For the six-month period, BCorp registered a revenue of RM4.15 billion against RM16.04 million in pre-tax loss.

In a filing with the stock exchange, the group said the recent Covid-19 outbreak has caused travel restrictions by certain countries due to the fear of infection. Consequently, its hotels and resorts business segment has been directly and adversely impacted and as such, this business segment’s performance is expected to be challenging in the subsequent quarters.

“The government’s impending plan to change the telecommunication spectrum allocation policy may affect the performance of the group’s telecommunication business going forward. Given the prevailing economic conditions and global financial outlook, the group’s operating environment will remain challenging,” it added.

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