Business

Tuesday June 23, 2009

BLand posts RM54mil Q4 net loss


PETALING JAYA: Berjaya Land Bhd (BLand) posted a net loss of RM53.98mil for the fourth quarter ended April 30 against a net profit of RM631.68mil in the previous corresponding period mainly due to lower revenue contribution from its gaming, hotel and resorts as well as property development divisions.

Pre-tax profit for the quarter was lower at RM26.9mil against RM635mil previously, while revenue dropped to RM973.18mil against RM1bil previously.

In addition, the group recorded an exceptional gain of RM580.5mil mainly arising from the placement of 150 million of 5% BLand irredeemable convertible unsecured loan stocks amounting to about RM598.9mil in the previous corresponding quarter.

In a statement to Bursa Malaysia yesterday, the company attributed the lower revenue contribution to its gaming business operated by Sports Toto Malaysia Sdn Bhd, which was the principal subsidiary of Berjaya Sports Toto Bhd.

Sport Toto Malaysia had in the previous corresponding quarter benefited from higher sales from the Chinese New Year festive season that fell in February last year, it said.


BJLAND : [Stock Watch] [News]


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