Group revenue for the current quarter increased to RM810 million, a 35% increase or RM 212 million increase over the corresponding quarter in the previous year (“corresponding quarter”). Group operating profit is, at RM270 million, higher by RM62 million.

Power Generation revenue increased by 49% from RM382 million to RM572 million in the current quarter mainly due to the contribution of RM170 million from the Globeleq power plants which were acquired in November 2007 (“Gobeleq Plants”). The operating profit of the Power Generation segment has increased by RM41 million or 26% to RM200 million in the current quarter. This arose from the enhanced contribution of the Globeleq plants but was however offset by development costs totaling RM30 million that were incurred in respect of bids for major international power business and corporate development activities.

Gross sales proceeds from the NFO business decreased marginally to RM520 million from RM524 million in the current quarter. Gaming revenue however increased to RM190 million from RM181 million due mainly to a reduction in the prize payout ratio from 66% to 64% in the current quarter. The lower prize payout for the current quarter resulted in an increase in operating profit for the Gaming segment from RM52 million to RM62 million.

The launch of new attractions in Tropical Islands coupled with the seasonality of the holiday period, led to a higher number of visitors and higher average spending per visitor, resulting in a RM12 million revenue increase. The operating loss for this segment has accordingly reduced from RM10 million to RM2 million.

Net investment income is higher than that recorded in the corresponding quarter due mainly to the recognition of investment gains totaling RM62 million from the disposal of the Group’s interest in an entity holding interests in broadcasting assets in the United Kingdom (“Arqiva”) on 26 March 2008.

Net finance costs increased from RM57 million to RM88 million as a result of a full quarter’s interest expense relating to the acquisition of the Globeleq plants.

For the period under review, Group profit attributable to shareholders increased by RM90 million from RM111 million to RM201 million. Net earnings per share increased by 22.2 sen from 27.6 sen to 49.8 sen.

The Board has recommended a first interim dividend of 17.5sen per share less Malaysian income tax.

By Order of the Board
Siuagamy Ramasamy
Group Company Secretary