Berjaya Food Q2 net profit triples to RM38.88m

PETALING JAYA: Berjaya Food Bhd’s (BFood) net profit for the second quarter ended Dec 31, 2021 tripled to RM38.88 million from RM11.12 million a year ago in tandem with the higher revenue recorded in the current quarter as well as the improved performance from the group’s Kenny Rogers Roasters operations in Malaysia.

The group’s Q2 revenue increased by 57% to RM272.75 million compared with RM174.10 million in the corresponding quarter of the previous year, mainly due to higher same-store sales growth, particularly from the Starbucks outlets. The resumption of interstate and overseas travel starting from Oct 11, 2021, coupled with the festive sales and Christmas season also contributed to the increase in revenue.

For the six months period, BFood’s net profit doubled to RM50.50 million from RM21.49 million a year ago mainly due to higher same-store sales growth; interstate and overseas travel resuming from Oct 11, 2021, plus the Christmas season and festive sales. Revenue jumped 29.8% to RM460.47 million against RM354.82 million in the same period last year.

The board declared a second interim dividend of 1.0 sen single-tier dividend per share in respect of the financial year ending June 30, 2022 to be payable on March 30, 2022. The entitlement date has been fixed for March 15, 2022.

The total dividend declared for the financial period ended Dec 31, 2021 amounted to 2.0 sen single-tier dividend per share.

With the further easing of restrictions and the resumption of interstate and overseas travel, the directors expect the overall operating results of the group to improve gradually for the remaining quarters of the financial year ending June 30, 2022.

BFood CEO Datuk Sydney Quays said: “While the year has been extremely challenging in many aspects, the vast improvement in our second quarter results is testament to the resilience of the various businesses within the group. We hope to continue our growth trajectory as the country gradually recovers from the pandemic.”