Berjaya Corp Q1 profit soars on disposal gains

PETALING JAYA: Berjaya Corp Bhd (BCorp) kicked off its financial year with a set of good numbers that saw its first quarter ended July 31 net profit soaring to RM56.13mil compared with RM8.3mil a year ago, despite lower revenue, mainly due to gains on disposals.

However, operationally, the conglomerate reported a lower pretax profit RM183.8mil for the quarter under review compared with RM200.3mil in last year’s corresponding quarter, mainly due to the full effect of deconsolidating Berjaya Auto (BAuto), which ceased as a subsidiary company since December 1, 2014 and higher finance costs.