Berjaya Food’s net profit for second quarter up 38.8%

PETALING JAYA: Berjaya Food Bhd’s (BFood) net profit for the second quarter ended Dec 31, 2020 jumped 38.8% to RM11.12 million from RM8.01 million a year ago mainly due to the implementation of effective cost management.

However, revenue fell 5.4% year on year to RM174.1 million from RM184.12 million mainly due to lower footfall in stores as a result of growing concern on the increasing number of Covid-19 confirmed cases in the current quarter under review, as well as closures of certain non-performing stores.

For the six months period, BFood’s net profit increased 70.3% to RM21.49 million from RM12.62 million in the previous year’s same period; while revenue dropped 2.7% to RM354.82 million from RM364.56 million, mainly due to the same reasons in Q2.

The board has declared a second interim dividend of 50 sen single-tier dividend per share in respect of the financial year ending June 30, 2021 to be payable on March 26, 2021. The entitlement date has been fixed on March 12, 2021.

“With the implementation of the second movement control order in all states except Sarawak, the directors are of the view that the group’s operating environment will remain challenging in the remaining quarters,” BFood said.