Berjaya Food’s top line up 8.9% to RM151.42m in Q4

PETALING JAYA: Berjaya Food Bhd (BFood) saw its revenue increase 8.9% to RM151.42 million for the fourth quarter ended April 30, 2017 versus RM139.05 million in the previous corresponding period, thanks to additional cafes operating in the current quarter.

However, it swung to a net loss of RM3.37 million for the quarter under review from a net profit of RM3.17 million in the same period a year ago, due to the slowdown of the economy.

In view of that, BFood said the management undertook measures to curtail further losses in future such as closure of non-performing restaurants and outlets. These measures led to impairment of fixed assets and intangible assets.

BFood’s full-year net profit declined 46.7% from RM21.29 million to RM11.35 million on the back of a 9.2% rise in revenue from RM554.36 million to RM605.44 million.

The group has recommended a fourth interim dividend of 1 sen single-tier dividend per share to be payable on July 28. The entitlement date has been fixed on July 12.

This brought total dividend declared for the financial year ended April 30, 2017 to 3.50 sen single-tier dividend per share.

With the weak consumer sentiment and other economic factors, BFood said it will be operating in a challenging environment in 2018.

“Nevertheless, the group expects Starbucks to maintain its revenue growth momentum, and the price adjustment in the previous quarter is expected to mitigate the negative impact from the fluctuating ringgit and poor results of Kenny Rogers Roasters operations in Malaysia,” it noted.