PETALING JAYA: Berjaya Food Bhd’s second quarter net profit ended Oct 31 was 21.0% higher due to higher profit contributions from Starbucks Coffee operations in tandem with the higher revenue achieved.
In addition, the group had ceased consolidation of the losses from its Kenny Rogers Roasters (KRR) operations in Indonesia following its disposal in the previous financial year.
The group made a net profit of RM7 million for the quarter under review, compared with RM5.8 million for the corresponding quarter in the preceding year.
This was on 3.59% higher revenue of RM166.6 million, compared with RM160.8 million for the corresponding quarter in 2017 mainly due to the same-store-sales growth recorded by Starbucks as well as additional Starbucks cafes operating in Malaysia.
The board has recommended a second interim dividend of one sen per share in respect of the financial year ending April 30, 2019 to be payable on Jan 25, 2019. The entitlement date has been fixed on Jan 9, 2019. Total dividend declared for the financial period ended Oct 31 amounts to two sen per share.
The group is engaged in developing and operating the Starbucks Coffee brand in Malaysia and Brunei, developing and operating the KRR chain in Malaysia as well as Jollibean and two other brands in Singapore.
The key factors that affect the performance of all food and beverage businesses include mainly the festive seasons, tourism, eating out culture, raw material costs, among others.
The board believes that the renewed consumer confidence level, coupled with the group’s expansion plans, will fuel the group’s business growth and should augur well for the group’s operations going forward.
For the cumulative six month period ended Oct 31, the group posted a net profit of RM13.3 million, compared with RM11.2 million for the same period in 2017.
This was on 4.1% higher revenue of RM328 million, compared with RM315.2 million for the same period in 2017.
