Berjaya returns to the black in 1Q with RM15.8mil net profit

KUALA LUMPUR: Berjaya Corp Bhd (BCorp) is cautiously optimistic about the group's business operations performing satisfactorily in the remaining quarters until the financial year ending June 30, 2024 (FY24).

BCorp said the number forecast operation (NFO) business segment of the group is cognisant of the concerns on the local political developments in the northern states of Peninsular Malaysia, with closures of outlets in the state of Kedah and Perlis which could lead to proliferation of illegal

NFOs activities in the underserved areas.

“The management is continuing to take the necessary steps to address this issue,” it said.

Meanwhile, the conglomerate said the performance of the business segments of the group is expected to improve on the back of moderate consumer spending, rebound of tourism activities and better-than-expected labour market conditions.

In the first quarter ended Sept 30, Berjaya returned to the black in the first quarter ended Sept 30 with a net profit of RM15.8mil against a net loss of RM16.4mil in the same quarter last year.

Revenue rose 14.4% to RM2.57bil compared with RM2.24bil in the corresponding quarter last year. Its earnings per share stood at 0.28 sen against loss per share of 0.29 sen.

The board has declared a first interim share dividend of six treasury shares for every 100 ordinary shares held equivalent to 1.44 sen dividend per share amounting to RM81.53mil in respect of FY24 to be credited on Jan 26, 2024. The entitlement date has been fixed on Jan 11, 2024.