Berjaya Food impacted by boycott


KUALA LUMPUR: Berjaya Food Bhd (BFood) is optimistic about its operating performance, expecting improvement and regained momentum in the remaining quarters of the financial year ending June 30, 2024 (FY24).

“The board of directors believes that the operating performance results will rebound and regain momentum, considering the current situation as short-term and things are anticipated to progress positively moving forward,” BFood said in the notes accompanying its financial results.

BFood posted a net loss of RM42.6mil, or loss per share of 2.42 sen in the second quarter ended Dec 31 (2Q24) against a net profit of RM35.5mil, or 2.02 sen posted last year.

Revenue for the quarter tumbled 38% to RM182.5mil compared with RM295.3mil a year ago.

BFood said the drop in revenue was mainly due to the boycott in relation to the conflict in the Middle East.

For the first six months to Dec 31, BFood posted a net loss of RM23.5mil against a net profit of RM70.2mil while revenue fell 20.3% to RM461.1mil from RM578.4mil previously.

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