Berjaya Corp Q4 revenue rises 6.9%

PETALING JAYA: Berjaya Corp Bhd’s (BCorp) revenue for the fourth quarter ended April 30, 2016 rose 6.94% to RM2.48 billion from RM2.32 billion a year ago due to higher revenue reported by the property investment and development segment.
In a filing with Bursa Malaysia yesterday, BCorp said the property investment and development business saw strong sales from a property project in China, which it attributed to the relaxation of certain government policies for property acquisition.
“Higher revenues were also reported by the restaurants and cafes business mainly due to higher sales recorded by existing cafes as well as additional cafes operating in the current quarter,” it said.
The motor distribution business under H.R. Owen Plc also saw higher revenue with additional outlets and introduction of new models by car manufacturers.
However, the marketing of consumer products and services segment and Toto betting operations operated by Sports Toto Malaysia Sdn Bhd posted lower revenue.
BCorp recommended a final dividend of three treasury shares for every 100 ordinary shares held, to be approved by shareholders at the forthcoming AGM. The final share dividend is equivalent to 2.16 sen per share.
BCorp’s pre-tax loss widened to RM466.09 million during the quarter from RM323.03 million a year ago due to non-cash impairment in value of goodwill of RM473.20 million; associate companies of RM28.71 million; property, plant and equipment of RM25.67 million and assets held for sale relating to Berjaya (China) Great Mall Co Ltd of RM131.81 million, totalling RM659.39 million.
For the financial year ended April 30, 2016, revenue fell 5.20% to RM9.02 billion from RM9.51 billion a year ago while pre-tax profit was down to RM125.10 million from RM1.39 billion a year ago.