KUALA LUMPUR: Berjaya Food Bhd has returned to the black with a net profit of RM47.36mil in the financial year ended June 30, 2021 (FY21), driven by higher revenue and lower operating costs amid the Covid-19 pandemic.
In a filing with Bursa Malaysia, the group said its revenue was up 13.3% to RM717.27mil in FY21 compared with RM632.92mil a year ago, driven by gradual easing of the lockdown measures since the first quarter ended Sept 30, 2020, which resulted in higher same-store sales growth.
“The higher pre-tax profit was in tandem with the improved revenue recorded in the current financial year, coupled with the lower operating costs which resulted from effective cost management to mitigate the impact of the pandemic,” it said.
Meanwhile, Berjaya Food recorded a net profit of RM14.27mil compared to a net loss of RM30.16mil in the corresponding period last year, with revenue increasing to RM180.72mil from RM111.57mil previously.
“The group’s operations in the current quarter was not as adversely impacted as compared with the same quarter in the preceding year, as the lockdown measures were not prevalent then,” it said.
Berjaya Food added that the group was more prepared during this quarter as compared with the previous year’s corresponding quarter by the implementation of various measures to operate more efficiently.
“The group registered higher pre-tax profit in the current quarter mainly arising from the recognition of income from the deferred revenue of Starbucks rewards upon termination of the old programme after the strategic implementation of a new rewards programme in Malaysia ahead of schedule,” it said.
Berjaya Food also declared a fourth interim dividend of one sen per share, payable on Sept 23, 2021.
“The entitlement date has been fixed for Sept 9, 2021 and the total dividend declared for FY21 amounted to 3 sen single-tier dividend per share,” it said, adding that the total dividend declared for FY20 was 2 sen single-tier dividend per share.
Moving forward, the group said its directors are of the view that operating environment would remain challenging in the next financial year due to the rising number of Covid-19 cases in Malaysia and the economic uncertainty caused by the prolonged pandemic.