BFood's 2Q net profit more than triples to RM38.9mil

KUALA LUMPUR: Berjaya Food Bhd’s (BFood) net profit for the second quarter ended Dec 31, 2021 (2Q22) more than tripled to RM38.9mil from RM11.12mil a year ago.

The higher net profit was in tandem with the higher revenue recorded in the current quarter as well as improved performance from the Kenny Rogers Roasters (KRR) operations in Malaysia.

Its revenue for the quarter rose 56.6% to RM272.7mil against RM174.1mil in the same period last year, mainly due to higher same-store-sales growth, particularly from Starbucks cafe outlets.

BFood said the resumption of interstate and overseas travel starting from Oct 11, 2021, coupled with the festive sales and Christmas season also contributed to the increase in revenue.

“The board has declared a second interim dividend of 1.0 sen single-tier dividend per share in respect of the financial year ending June 30, 2022 (FY22) to be payable on March 30, 2022. The entitlement date has been fixed on March 15, 2022,” BFood said in a statement.

With the further easing of restrictions and the resumption of interstate and overseas travel, the directors expect the overall operating results of the group to improve gradually for the remaining quarters of FY22.

BFood chief executive officer Datuk Sydney Quays said, “While the year has been extremely challenging in many aspects, the vast improvement in our second quarter results is testament to the resilience of the various businesses within the group. We hope to continue our growth trajectory as the country gradually recovers from the pandemic.”

In the first six months to Dec 31, BFood posted a net profit of RM50.5mil, up 135% from RM21.5mil a year ago. Revenue rose to RM460.47mil against RM354.81mil.