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Results Note � Berjaya Sports Toto
(HOLD, maintain)
- A tepid quarter Berjaya Sports Toto�s (BST) 1QFY17 core net profit was within our expectations. While its core number forecasting business has delivered resilient revenue growth of 3.6% YoY during the quarter, the overall group core net profit failed to benefit from it due to higher OPEX cost arising from H.R. Owen. We are maintaining our HOLD recommendation on BST, as we believe the outlook for its core number forecasting business remains challenging. |
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For important disclosures, please refer to the Disclosure section at the end of the individual linked research reports. |
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