Berjaya Corp warns challenging outlook remains as it posts 1Q losses

KUALA LUMPUR (Nov 29): Berjaya Corporation Bhd posted a net loss of RM54.23 million in the first quarter ended Sept 30, 2019, on revenue of RM2.07 billion.

There are no comparative figures disclosed for the current quarter following the company's change in its financial year end from April 30 to June 30, 2019.

“The revenue was substantially contributed from the gaming business segment operated by Sports Toto Malaysia Sdn Bhd, and the motor distribution business segment operated by H. R. Owen PLC,” the group said in a statement.

It said it recorded a pre-tax profit of RM45.62 million in the current quarter under review, which was mainly contributed by the gaming business segment. But this was impacted by losses from the property investment and development segment.

Given the prevailing economic conditions and global financial outlook, Berjaya Corp said it is of the view that the group's operating environment will remain challenging going forward.

Berjaya Corp closed 0.5 sen or 2.13% higher at 24 sen for a market capitalisation of RM1.24 billion.

Click here for more property stories.