Berjaya Food’s Q4 earnings surge fourfold

13 Jun 2019 / 20:51 H.

PETALING JAYA: Berjaya Food Bhd’s (BFood) net profit for the fourth quarter ended April 30, 2019 jumped over fourfold to RM4.05 million from RM837,000 a year ago as a result of higher revenue, coupled with lower finance cost.

It registered a 6.2% increase in revenue to RM169.93 million from RM160 million in the previous year’s corresponding quarter mainly due to the same-store-sales growth recorded by Berjaya Starbucks Coffee Company Sdn Bhd (BStarbucks) as well as additional Starbucks cafes operating in Malaysia compared to the corresponding quarter of the previous year.

For the 12-month period, BFood’s net profit grew 22 folds to RM26.31 million from RM1.18 million a year ago thanks to higher revenue, coupled with lower finance cost and the absence of a loss arising from the group’s disposal of its Kenny Rogers Roasters operations in Indonesia.

The group registered a 6% higher revenue of RM678.43 million as compared to RM639.74 million in the previous year’s corresponding period mainly due to the same-store-sales growth recorded by BStarbucks as well as additional Starbucks cafes operating in Malaysia in the current period under review.

The board has recommended a fourth interim dividend of 1.0 sen single-tier dividend per share in respect of the financial period ending June 30, 2019 to be payable on July 26, 2019. The entitlement date has been fixed on July 11, 2019.

The total dividend declared for the financial period ended April 30, 2019 amounted to 4.0 sen single-tier dividend per share.

“The group expects the overall operating results for the remaining months (May and June 2019) of the financial period (as a result of the change in financial year end to June 30, 2019) to be affected by the Muslim fasting month, which fell in May,“ BFood said.

BFood’s financial year end has been changed from April 30 to June 30 to coincide with the new financial year end of its holding company, Berjaya Corp. The next set of financial statements will be from May 1, 2018 to June 30, 2019 covering a period of 14 months.

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