Bursa Malaysia Stock Watch

Berjaya Sports Toto (Buy): All I want for Christmas is more dividends

kltrader
Publish date: Tue, 13 Dec 2011, 09:33 AM
kltrader
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Great results. 2QFY12 net profit of RM105.7m (+62% YoY, +15% QoQ) brought 1HFY12 net profit to RM197.8m (+53% YoY), within expectations at 49% of our FY12 estimate. 1HFY12 revenue of RM1.7b (+2% YoY) was also in line at 48% of our FY12 estimate. Although it surprised with another interim net DPS of 8 sen (16 sen YTD), representing a net DPR of 108% (assumption: 75%), we still hold out for a major capital management exercise. Maintain Buy, RM4.85 TP.

Maybank research (13 December 2011)

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