Berjaya Food net profit soars to RM122.74mil in FY22

Berjaya Food CEO Datuk Sydney Quays

KUALA LUMPUR: Berjaya Food Bhd (BFood)'s net profit for the financial year ended June 30, 2022 (FY2022) surged to RM122.74 million from RM47.11 million in FY21 driven by same-store-sales growth, particularly from the Starbucks cafe outlets.

In a filing with Bursa Malaysia, BFood said its revenue for the year jumped to RM997.74 million compared with RM717.34 million previously.

For the fourth quarter ended June 30, 2022, BFood recorded a net profit of RM40.66 million against RM14.27 million in the same period a year ago, while revenue improved 61 per cent to RM291.27 million from RM180.72 million previously.

"The higher revenue and pre-tax profit of RM188.98 million were mainly due to the higher same-store- sales growth, particularly from the existing Starbucks cafe outlets as well as contribution from the new Starbucks cafe outlets opened during the financial year, and the turnaround of the Kenny Rogers Roasters business performance," it said in a separate statement.

Bfood has declared a fourth single-tier interim dividend of 2.0 sen per share, payable on Sept 22, 2022, bringing the total dividend declared for FY2022 to 5.50 sen per share.

Moving forward, Bfood expects Starbucks to maintain its revenue growth momentum, and anticipates the group's operating results to remain satisfactory in FY2023.

"It was certainly a year of success and progress for the group despite facing the operational headwinds. We will continue to work hard towards sustaining our growth momentum as we enter the new financial year," said BFood chief executive officer Datuk Sydney Quays. - Bernama

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