Berjaya Food reports RM30mil losses in 3Q amid Middle East sentiment


KUALA LUMPUR: Berjaya Food Bhd (BFood), which posted a net loss of RM29.8mil in the third quarter ended March 31 (3Q24), expects a gradual improvement in its operating performance.

“The directors are of the view that the operating performance of the group's businesses will gradually improve over the next remaining quarter for the financial year ending June 30, 2024 (FY24),” BFood said in a filing with Bursa Malaysia.

Its net loss in 3Q24 was a sharp contrast to a net profit of RM15.94mil in 3Q23.

Revenue for the quarter halved to RM138.6mil against RM265.8mil posted last year.

BFood said the significantly lower revenue and losses incurred during the quarter were mainly due to the current sentiment in relation to the conflict in the Middle East.

In the first nine months to March 31, BFood posted a net loss of RM53.3mil against a net profit of RM86.1mil last year while revenue fell 29% to RM599.7mil from RM844.2mil.

The board does not recommend any dividend for the current quarter under review.

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Berjaya Food , Middle East

   

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