PETALING JAYA: Analysts are lowering their forecasts for Sports Toto Bhd
’s earnings for this year due to lower revenue and higher cost projections.
At the same time, they agree that the company’s British auto retailing business H.R. Owen is anticipated to further weigh down its earnings.
Hong Leong Investment Bank Research (HLIB Research) said although Sports Toto’s management had indicated positive sales momentum for draws during the Chinese New Year, surpassing pre-Covid-19 pandemic levels in terms of sales per draw, it is less optimistic over H.R. Owen’s prospects.
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