BCorp expects satisfactory performance in FY23


KUALA LUMPUR: Despite the pressure of the rising operating costs going forward, Berjaya Corp Bhd (BCorp) expects its performance in the remaining quarters of the financial year ending June 30 (FY23) to be satisfactory.

“The directors are optimistic that the performance of the business operations of the group for the remaining quarters of FY 23 to be satisfactory despite the pressure of the rising operating costs going forward,” the conglomerate said in a statement.

BCorp’s net loss narrowed to RM16.4mil, or loss per share of 0.29 sen in the first quarter ended Sept 30 (1Q23) against RM59.3mil, or loss per share of 1.03 sen in the same quarter last year.

Its revenue jumped 61.8% to RM2.24bil from RM1.39bil a year prior.

The improved financial results were attributed to better performance from most of the group’s business segments resulting from the resumption of international and domestic travel, as well as the further relaxation of the Covid-19 standard operating procedures.

BCorp said its retail (food) segment recorded higher revenue mainly due to the higher same-store-sales growth, particularly from the existing Starbucks cafe outlets as well as the full quarter effect of the new Starbucks cafe outlets opened during the previous financial year.

Property segment reported higher revenue due to the higher property progress billings from its local project at The Tropika, Bukit Jalil, and higher sales of local residence units while the hospitality segment reported higher revenue mainly due to the higher overall occupancy and average room rates.

BCorp said the services segment posted higher revenue due to the significantly higher revenue from the gaming operations operated by STM Lottery Sdn Bhd.

Its revenue jumped 844.7% as a result of the higher number of draws conducted, 46 draws in the current quarter compared to only eight draws in the previous year’s corresponding quarter.

However, it said the retail (non-food) segment contributed lower revenue mainly due to the lower revenue from H.R. Owen Plc and the deconsolidation effect of a motor trading subsidiary. HR Owen’s financial performance was impacted by the unfavourable foreign exchange effect, resulting in lower revenue.

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Berjaya Corp , BCorp , Starbucks , The Tropika

   

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