Sports Toto (former Berjaya Sports Toto)

[winston]

vested

2QFY25: Sequential Improvement From Lottery Business

SPTOTO’s 2QFY25 results came in within expectations, reflecting improved STM earnings on higher ticket sales and lower prize payouts.

Despite HR Owen still facing inflationary pressures and higher depreciation, we remain confident on SPTOTO’s progressive earnings recovery especially in 3QFY25 which has seen a prolonged 6/58 jackpot run to record high levels.

Compelling yields of 7-9% will continue to provide moderate capital upside.

Maintain BUY. Target price: RM1.78.

Source: UOBKH

https://39646150.fs1.hubspotusercontent ... PTOTO%20MK).pdf?utm_medium=email&_hsenc=p2ANqtz-_k0I4SNT9Kfvmf7Fl5W-fFGzI_P85a2MgV28w7pPMsaaj1sIRLcjG9fBglRhaIS0Vp1qpKJbz3JenqzGMKbyuGrpjcgQ&_hsmi=348563881&utm_content=348563881&utm_source=hs_email

[winston]

vested

Sports Toto’s third-quarter net profit soars 54%

In the third quarter ended March 31, Sports Toto’s net profit jumped 54.3% to RM105.6mil, bringing its nine-month net profit to RM196.7mil.

Revenue rose 12.5% to RM1.9bil, lifting its nine-month revenue to RM4.83bil.

STM Lottery achieved a stronger revenue growth of 20.8%. Pre-tax profit rose by 45.8% in the current quarter.

H.R. Owen recorded a 14% increase in revenue, mainly driven by higher sales volumes in both the new and used car segments.

H.R.Owen’s pre-tax profit increased to RM17.9mil from RM11.3mil in the last year same quarter.

Source: The Star

https://www.thestar.com.my/business/bus ... t-soars-54

[winston]

vested

Sports Toto records lower 4Q profit, declares 2 sen dividend

In 4Q25, Sports Toto’s net profit slid to RM40.35mil or earnings per share of 3.03 sen.

Revenue fell by 1% y-o-y to RM1.63bil.

H.R. Owen recorded a 4.1% y-o-y drop in revenue for 4Q25.

STM Lottery also recorded a decline in its pre-tax profit, by 14.8% y-o-y despite a higher revenue, which rose by 3.7% y-o-y.

For the financial year ended June 30, 2025 (FY25), its earnings increased by 8.73% y-o-y to RM237.01mil while revenue was up 1.65% to RM6.46bil.

Sports Toto declared a fourth interim dividend of 2 sen per share, payable on Oct 17, 2025 with the entitlement date on Oct 2, 2025.

Source: The Star

https://www.thestar.com.my/business/bus ... n-dividend

[winston]

not vested

Sports Toto 1Q net profit nearly halves on weaker lottery results

Net profit of RM22.1 million for the quarter ended Sept 30, 2025 (1QFY2026), down 46.5% from RM41.34 million a year earlier.

Earnings per share fell to 1.66 sen from 3.06 sen.

Pre-tax profit at its core unit, STM Lottery Sdn Bhd, dropped 20.8% year-on-year in 1QFY2026.

HR Owen plc narrowed its pre-tax loss to RM9.4 million in 1QFY2026 from RM11.5 million in 1QFY2025 on stronger revenue.

Group revenue for the quarter rose 3.7% to RM1.5 billion from RM1.44 billion a year earlier, lifted by higher average sales per draw.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/781405

[winston]

vested

Sports Toto (HOLD)
An unlucky start

SPToto reported 1QFY26 core PATMI of RM20.2m (-60.9% QoQ, -45.7% YoY), coming in below both our and consensus full year forecasts.

The negative deviation was mainly attributed to the lower-than-expected EBIT margin in the NFO segment, impacted by a higher prize payout (luck factor).

Going into 2QFY26, we expect SPToto’s NFO segment and HR Owen to deliver a weaker QoQ performance.

We cut our FY26-27 forecasts by -13.8%/-13.2% to predominantly account for higher prize payout (luck factor) assumptions in the NFO segment.

Besides, we also introduce our FY28 forecast of RM233.7m (+9.1% YoY).

Reiterate HOLD on SPToto with a lower TP of RM1.21. Notably, SPToto offers a decent dividend yield of 5.0% in FY26.

Source: HLIB

[winston]

vested

Sports Toto's 2Q profit slips on UK car dealer losses; declares three sen dividend

By John Lai

9.2% drop in its second-quarter net profit, mainly due to widening losses at its British luxury car dealership unit.

Source: theedgemalaysia.com

https://theedgemalaysia.com/node/793696

[winston]

vested

1562 SPTOTO (HOLD)
HR Owen encounters near-term headwinds

SPToto reported 1HFY26 core PATMI of RM63.9m (-27.3% YoY), coming in below both our and consensus full year forecasts.

The negative deviation was mainly attributed to the lower-than-expected EBIT margin at HR Owen and a higher-than-expected group effective tax rate.

Going into 3QFY26, we anticipate a flattish QoQ performance from SPToto’s NFO segment.

For HR Owen, we expect it to remain loss-making, primarily due to ongoing cost pressures stemming from newly implemented labour regulations in the UK.

All in, we project stronger QoQ group earnings, mainly driven by the normalisation of effective tax rates.

We cut our FY26-28 forecasts by -15.7%/-4.7%/-5.6% to predominantly account for lower EBIT margin for HR Owen and higher group effective tax rate assumptions.

Reiterate HOLD on SPToto with a lower TP of RM1.15. SPToto offers a compelling dividend yield of 7.2% in FY26.

Source: HLIB