Berjaya Food posts slightly higher revenue in Q3

PETALING JAYA: Berjaya Food Bhd saw a marginal rise in revenue to RM164.44 million for the third quarter ended Jan 31, 2018 compared with RM163.54 million in the previous corresponding period, buoyed by additional Starbucks cafes operating and as well as same-store-sales growth.
However, it posted a net loss of RM10.85 million for the quarter under review from a net profit of RM4.68 million in the same quarter a year ago, dragged by an one-off loss arising from the disposal of its Kenny Rogers Roasters operations in Indonesia.
The group registered a pre-tax loss of RM4.84 million in the current quarter under review in comparison with a pre-tax profit of RM8.62 million reported in the previous year’s corresponding quarter.
Excluding the exceptional investment related expenses, the group’s pre-tax profit would have been RM10.55 million.
The group has proposed to declare an interim dividend of 1 sen per share, payable on April 27.
For the nine-month period, Berjaya Food’s revenue increased 5.6% from RM454.02 million to RM479.61 million, while net profit was down from RM14.71 million to RM304,000.
It said in a filing with Bursa Malaysia that the group expects the overall operating results to be satisfactory for the remaining quarter of the financial year with Starbucks continuing its revenue growth momentum.