Berjaya Food returns to the black in fourth quarter

PETALING JAYA: Berjaya Food Bhd (BFood) swung to the black registering a net profit of RM837,000 for the fourth quarter ended April 30 against a net loss of RM3.37 million in the previous corresponding period, mainly due to higher profit contributions from Starbucks’ operations in tandem with the higher revenue.
In addition, there was no consolidation of the losses from PT Boga Lestari Sentosa, operator of the Kenny Rogers Roasters (KRR) operations in Indonesia following its disposal in the preceding quarter.
Revenue was up 5.7% to RM160 million from RM151.42 million.
BFood has recommended a fourth interim dividend of 1 sen per share for the quarter under review, payable on July 26.
Its full-year net profit went down to RM1.14 million from RM11.44 million, while revenue expanded 5.6% to RM639.6 million from RM605.44 million.
BFood said in a filing with the stock exchange that with the continuing revenue growth momentum of Starbucks and the completion of disposal of KRR (Indonesia), the board expects the group’s operating performance will be encouraging going forward.