KUALA LUMPUR, Sept 25 — Berjaya Land Bhd’s (BLand) net profit jumped 43.8 per cent year-on-year to RM16.58 million for the first quarter ended July 31, 2018, on higher profit contribution from Sports Toto Malaysia Sdn Bhd (STMSB) as well as lower finance cost.

Revenue increased marginally to RM1.62 billion from RM1.60 billion previously, mainly due to higher new vehicle sales volume reported by unit HR Owen Plc and improved revenue from STMSB’s gaming business segment, it said in a filing with Bursa Malaysia today.

BLand holds just over 40 per cent equity interest in Berjaya Sports Toto Bhd, which in turn wholly owns STMSB.

On prospects, the group said the number forecast operation business was expected to be satisfactory and it would continue to maintain its market share for the remaining quarters of this financial year ending April 30, 2019.

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“The performance of the hotels and resorts business is also expected to remain satisfactory while the property market outlook is expected to remain lukewarm.

“The group also expects to record a significant gain on the successful disposal of both the Berjaya Vietnam International University Township and a Vietnam subsidiary, going forward,” it added. — Bernama