PETALING JAYA: Berjaya Corp Bhd (BCorp) reported RM1.42 billion in revenue for two months ended June 30, 2019, attributed to substantial contributions from its gaming segment operated by Sports Toto Malaysia and motor distribution segment operated by HR Owen.
For the period, the group reported a pre-tax loss of RM47.95 million, mainly due to the impairment in associated companies, unfavourable fair value changes of investment properties and impairment of goodwill in a subsidiary company.
However, the losses were mitigated by the gain recognised on the disposal of a subsidiary company amounting to RM17.97 million.
For the 14-month period, BCorp saw RM9.78 billion in revenue with a pre-tax profit of RM429.08 million which includes the substantial gain realised on disposal of a joint venture and subsidiary companies of RM195.74 million and RM94.61 million, respectively.
The pre-tax profit also includes impairment in associated companies, unfavourable fair value changes of investment properties, impairment of goodwill in a subsidiary company, as well as additional provision for the impairment on the balance of the Great Mall Co Ltd project sales proceeds.
Looking ahead, BCorp expects the operating environment to be challenging for the forthcoming financial year given the prevailing economic conditions and global financial outlook.
The group has changed its financial year end from April 30 to June 30.
