BFood posts higher net profit in Q1

PETALING JAYA: Berjaya Food Bhd (BFood) saw its net profit in the first quarter ended July 31, 2017 grew 6.7% to RM5.3 million from RM5 million a year ago.
Revenue during the quarter grew 9.2% to RM154.39 million from RM141.37 million in the same period last year. BFood said in a statement today that the higher revenue and profit were mainly due to additional cafes operating in the current quarter.
Commenting on prospects, the group said it will be operating in a challenging environment in the remaining quarters due to weak consumer demand. However, it expects Starbucks to maintain its revenue growth momentum, and the price adjustment in the previous financial year is expected to mitigate the negative impact from the fluctuating ringgit.
“In addition, the operational and menu rationalisation of Kenny Rogers Roasters will also have a potential to yield positive results for the brand moving forward," it said.
The board has recommended a first interim dividend of 1 sen single-tier dividend per share in respect of financial year ending April 30, 2018 payable on Oct 27, 2017. The entitlement date has been fixed on Oct 13, 2017.
BFood gained 3.38% to close at RM1.53 today with 78,800 shares traded. Its market capitalisation stood at RM575.1 million.