PETALING JAYA: Berjaya Food Bhd (BFood) has registered a 188% jump in its net profit to RM8.98mil for the third quarter ended Jan 31 on the back of higher profit contributions from its Starbucks operations and improved performance of Kenny Rogers Roasters in Malaysia.
This is a stark improvement from the group’s net loss of RM10.85mil in the corresponding quarter of the previous year.
BFood also saw its revenue increasing 10% to RM180.54mil for the three-month period as compared to the period ended Jan 31, 2018.
The group said in its filing with Bursa Malaysia that the revenue was mainly due to same-store sales growth recorded by Starbucks, as well as additional Starbucks cafes operating in Malaysia compared to the previous year’s corresponding quarter .
The loss recorded in the previous year was mainly due to a loss from the disposal of the group’s Kenny Rogers Roasters operations in Indonesia.
The calender year-end festive promotions, school holidays and the Christmas season contributed to a higher profit from operations and pre-tax profit for the quarter.
As for the nine-month period, the group’s revenue and pre-tax profit were RM508.5mil and RM37.14mil, respectively, an increase of 22% and 176%.
Meanwhile the board has recommended a third interim single-tier dividend of one sen per share, in respect of the financial year ending April 30, 2019, to be payable on April 26.
The entitlement date has been fixed on April 11. The total dividend declared for the financial period ended Jan 31, 2019 amounted to three sen per share.
The group believes that the renewed consumer confidence level and its expansion plans will fuel its business growth.