Stock Name: BJTOTO
Company Name: BERJAYA SPORTS TOTO BHD
Company Name: BERJAYA SPORTS TOTO BHD
| Research House: CIMB | Price Call: BUY | Target Price: 5.30 |
Target RM5.30
Stronger sales during the CNY festive season and more draw days trumped a higher prize payout and enabled BToto to notch up a 2% yoy and 11% mom rise in 3QFY4/12 pretax profit, in line with expectations. But the third interim DPS of 6 sen was a surprise. 9MFY4/12 net profit came in at 79% of our full-year forecast and 78% of consensus estimates. But the YTD DPS of 22 sen was above expectations. We raise our DPS, leading to slight tweaks to our FY13-14 EPS. Maintain Outperform and DDM-based target price.
Stronger sales during the CNY festive season and more draw days trumped a higher prize payout and enabled BToto to notch up a 2% yoy and 11% mom rise in 3QFY4/12 pretax profit, in line with expectations. But the third interim DPS of 6 sen was a surprise. 9MFY4/12 net profit came in at 79% of our full-year forecast and 78% of consensus estimates. But the YTD DPS of 22 sen was above expectations. We raise our DPS, leading to slight tweaks to our FY13-14 EPS. Maintain Outperform and DDM-based target price.
Important Information.......
ReplyDeletetake over lease