Berjaya Food shares fall 1.2% despite profit return

KUALA LUMPUR: Berjaya Food Bhd’s share price edges lower despite returning to the black in the fourth quarter ended April 30 on Starbucks boost.

The counter fell 1.2%, or two sen to RM1.64.

Berjaya Food returned to the black in the fourth quarter driven by sales of its Starbucks outlets and the disposal of its loss-making operation Kenny Rogers Roasters (KRR) in Indonesia.

For the fourth quarter ended April 30, Berjaya Food posted a net profit of RM837,000.

This compared with losses of RM3.37mil a year earlier, on the back of a 5.7% jump in revenue to RM160mil from RM151.4mil previously.

Cumulatively, for the full year ended April 31, Berjaya Food’s net profit fell 88% to RM1.4mi compared with RM11.4mil previously.

Its revenue for the year grew 5.6% or RM34.2mil to RM639.6mil from RM605.4mil a year earlier.

Stock on the Move , Berjaya Food