BFood reports almost 3-fold profit jump in 3Q

Berjaya Food Bhd chief executive officer Datuk Sydney Quays

KUALA LUMPUR: Berjaya Food Bhd’s (BFood) net profit jumped almost three fold to RM31.57mil in the third quarter ended March 31, (3Q22) against RM11.6mil a year ago in tandem with the higher revenue recorded in during the quarter.

Its revenue for the quarter jumped 35.36% to RM246mil from RM181.73mil mainly due to higher same-store-sales growth, particularly from the Starbucks café outlets, as a result of the improved mobility upon the resumption of domestic tourism and further relaxation of the Covid-19 standard operating procedures.

BFood declared a single-tier third interim dividend of 1.5 sen, payable on June 23. The entitlement date has been fixed on June 8.

For the first nine months to March 31, BFood posted a net profit of RM82.08mil, up 148% from RM33.1mil a year ago, while revenue rose to RM706.47mil from RM536.55mil a year prior.

On prospects, BFood said with the further easing of restrictions and the opening of international borders, the directors expect the overall operating results of the group to be satisfactory for the remaining quarter of the financial year ending June 30, 2022.

“Consumers are easing back into normalcy as we move towards an endemic stage and this augurs well for the group.

“We hope to continue this positive growth momentum as we move into the final quarter of the financial year ending June, 30, 2022,” CEO Datuk Sydney Quays said in a statement.