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Berjaya Food posts RM11.6 million net profit for first quarter

06 May 2021 / 23:05 H.

PETALING JAYA: Berjaya Food Bhd (BFood) returned to the black in the third quarter ended March 31, 2021 with a net profit of RM11.61 million compared with a net loss of RM1.39 million a year ago, thanks to Starbucks Malaysia which achieved higher than budgeted same-store-sales growth.

Revenue rose 15% to RM181.73 million from RM158.60 million in the corresponding quarter last year.

For the nine months period, BFood’s net profit almost tripled to RM33.10 million from RM11.24 million a year ago, mainly due to effective cost management to mitigate the impact of the Covid-19 pandemic and the positive effect from the closing of loss-making outlets in the previous financial year.

Revenue jumped 3% to RM536.55 million from RM523.15 million as the group recorded higher same-store-sales growth with the gradual easing of the lockdown measures since the first quarter.

The board has declared a third interim dividend of 1.0 sen single-tier dividend per share in respect of the financial year ending June 30, 2021 to be payable on June 11, 2021.

“With the number of Covid-19 confirmed cases not abating in Malaysia and the economic uncertainty caused by this prolonged pandemic, the directors are of the view that the group’s operating environment will remain challenging in the remaining quarter,” BFood said.

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