Wednesday, September 19, 2012

Berjaya Sports Toto: Maintain Buy - Nice Start To The New Financial Year

  • A smooth-sailing 1QFY4/13. Berjaya Sports Toto's (BST) 1QFY4/13 results were within expectations. Revenue continued to improve due to 4D Jackpot, and the estimated prize payout ratio normalized at the theoretical level of 62%. Pan Malaysian Pool (PMP)'s 6D Jackpot does not appear to have overtly threatened its market share. Maintain BUY and DCF-based TP of MYR5.00.
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Source: Maybank Research - 19 Sep 2012

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