PETALING JAYA: Berjaya Corp Bhd’s (BCorp) pre-tax profit for the third quarter ended Jan 31 surged more than sixfold to RM39.05 million from RM6.35 million a year ago underpinned by improved performances from the marketing of consumer products and services segment.
In a filing with Bursa Malaysia, the group said that the previous year’s corresponding quarter also recorded substantial foreign exchange losses and a loss on disposal of a subsidiary company.
BCorp said the improved performance in the marketing of consumer products and services segment was due to lower operating expenses recorded by the retail distribution business, following the closure of non-performing stores and reduction in operating expenses.
The motor distribution business also saw a higher pre-tax profit mainly from H.R. Owen Plc, which recorded higher sales in the new car sector.
The restaurants and cafes segment contributed higher profit during the quarter, driven by Starbucks and Kenny Rogers Roasters Malaysia’s operations.
BCorp’s revenue for the quarter fell 7.39% to RM2.01 billion from RM2.17 billion a year ago.
For the nine-month period ended Jan 31, the group recorded a pre-tax profit of RM232.5 million compared with a pre-tax loss of RM84.86 million a year ago due to higher operating profit and gain on disposal of DSG Holdings Ltd.
The pre-tax loss recorded a year ago was due to the provision for impairment of a portion of the balance sale proceeds for the sale of Great Mall of China Project, and loss on partial disposal of an associated company, which amounted to RM155.08 million and RM39.94 million respectively.
The group is expected to recognise an exceptional gain in the remaining quarter with the completion of the disposal of TPC Nghi Tam Village Ltd on March 1.
