PETALING JAYA: Berjaya Assets Bhd (BAssets) posted a narrower net loss of RM83.69 million for the fourth quarter ended June 30, 2021, down 27.7% from RM115.83 million in the same quarter of the previous financial year, on the back of lower finance cost and other expenses.
Revenue for the quarter saw a 1.7% bump up to RM36.73 million from RM36.12 million previously.
In its Bursa filing today, the group said the Covid-19 pandemic disrupted the local economy due to the lockdown measures imposed to stem the spread of infections, while Malaysia’s accelerated vaccination progress is expected to drive the recovery of the economy.
Given these factors and the challenge from the prolonged pandemic, BAssets’ board is unable to ascertain the return of its operations to the levels prior to the Covid-19 pandemic.
Hence, BAssets expects the performance outlook for the financial year ending June 30, 2022 to remain challenging as it continues to deal with and adapt to the challenges from the pandemic going forward.
For the full financial year ended June 30, 2021, it reported a net loss of RM107.63 million, which was a 13% improvement from RM123.76 million in the previous financial year.
Revenue for the year stood at RM178.4 million, a 27.7% decline from RM246.7 million previously.