KUALA LUMPUR: Berjaya Corp Bhd’s (BCorp) net loss narrowed to RM35.88mil in the third quarter (3Q) ended March 31 from a net loss of RM87.56mil a year earlier.
The conglomerate’s revenue rose 33% to RM2.42bil in 3Q as compared to RM1.82bil last year, mainly due to the services and retail segments.
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In a statement, BCorp said the higher revenue reported by the non-food retail businesses was mainly due to the revenue reported by H.R. Owen Plc (HR Owen), arising from the higher sales recorded from both new and used car sectors upon the full resumption of its business operations for the quarter under review.
The food retail businesses also recorded a significant increase in revenue as a result of the improved mobility with the resumption of domestic tourism and further relaxation of the Covid-19 standard operating procedures.
It said the higher revenue was mainly due to higher same-store-sales growth particularly from the Starbucks café outlets.
BCorp said the hospitality segment reported higher revenue due to higher overall occupancy and average room rates, in particular from the hotels in Iceland, after the easing of travel and social restrictions during the current quarter under review.
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“The higher revenue from the services segment was mainly due to the 70.3% increase in revenue reported by the gaming operations, operated by STM Lottery Sdn Bhd.
“This was mainly due to better sales from the lotto games which resulted from higher accumulated jackpot prizes coupled with stronger sales attained during the festive period in February 2022,” BCorp said.
It said the property segment reported lower revenue in the current quarter, mainly due to the lower sales of its overseas residence units and lower overall property progress billings.
In the first nine months to March 31, BCorp posted a net profit of RM5.81mil against a net loss of RM196.22mil.
The group registered a higher revenue of RM5.86bil in the first nine months against RM5.71bil a year ago, mainly due to the higher revenue recorded from the retail and hotel segments. This was partly offset by lower revenue reported by both the services and property segments.
BCorp said the global economy has started to recover as most countries in the world have transitioned into the endemic phase with full resumption of business activities and the re-opening of international borders.
However, the recent rise of global inflation rates caused by the reduction of commodities supplies and disruptions in supply chains, brought on by the ongoing Russia-Ukraine war and the Covid-19 lockdowns in China, have impacted the economic recovery rate.
“Taking into account the aforesaid and barring any unforeseen circumstances, the directors expect the performance of the business operations of the group for the final quarter of the financial year ending June 30 to be satisfactory, despite having to bear the rising operating costs going forward,” BCorp said.
