Affected by weaker luck factor... BToto’s FY04/10 net profit was below our and consensus expectations, accounting for 92-93% of forecasts. This was due to the higher-than-expected gross payout ratio of 66.7% recorded in 4Q10 caused by weaker luck factor, which caused YTDFY04/10 payout ratio to rise to 63.9% (from 63% in 9MFY10 and theoretical level of 63%).
Berjaya Sports Toto Bhd : Higher Dividend Payout, Weaker Luck Factor - 21/6/2010
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