BLand begins FY20 with RM6m net loss

KUALA LUMPUR (Nov 26): Berjaya Land Bhd (BLand) reported a net loss of RM5.99 million on RM1.58 billion in revenue for the first quarter ended Sept 30, 2019 (1QFY20). 

No comparative figures were disclosed for the current quarter, following the company’s change in its financial year-end from April 30 to June 30, 2019. 

The group’s revenue was largely derived from gaming segment Sports Toto Malaysia Bhd, UK motor retailing business H.R. Owen Ltd, as well as hotels and resorts. 

In addition, it recorded a gain on disposal of investment properties, amounting to RM8.57 million. 

On prospects, the group said its directors expect the results of the number forecast operation (NFO) business to be better with the improving net revenue per draw and to be able to maintain its market share for the remaining quarters of the financial year ending June 30, 2020 (FY20).  

“The performance of both hotels and resorts and property development business segments are expected to remain satisfactory,” it added. 

BLand shares closed half a sen or 2.56% higher at 20 sen yesterday, giving it a market capitalisation of RM997.88 million. 

The counter saw some 1.53 million shares transacted.

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