Berjaya Corp cautiously optimistic on performance

KUALA LUMPUR: Berjaya Corp Bhd (BCorp) is cautiously optimistic about the group's business performance in the remaining quarters of the fiscal year ending June 30, 2024.

The conglomerate said the number forecast operator (NFO) business segment management believes that Malaysia's NFO business will sustain growth in per draw sales due to positive consumer spending during festive periods and ongoing interest in jackpot games.

“With the complete closure of the group's NFO outlets in Kedah and Perlis, the management of NFO business segment of the group is disheartened by the encroachment of illegal operators in these underserved areas due to the absence of legal NFO operators,” BCorp said in the notes accompanying its financial results.

Meanwhile, 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.

“The group will monitor the prevailing global and local political development in the countries where the group has business operations,” it said.

In the second quarter ended Dec 31, BCorp’s net loss widened to RM116.3mil, or loss per share of 2.99 sen compared with RM24.8mil, 0.44 sen in the same quarter last year.

Revenue fell to RM2.23bil against RM2.33bil last year.

For the first six months to Dec 31, BCorp posted a net loss of RM100.5mil on revenue of RM4.8bil.

The board did not recommend any dividend for the current quarter ended Dec 31, 2023.

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