KUALA LUMPUR: Berjaya Food Bhd
(BFood) reported a net loss of RM33.7mil in the first quarter ended Sept 30, from a net profit of RM19.03mil a year ago.
Its revenue more than halved to RM124.2mil in the quarter under review, down from RM278.5mil, due to the ongoing boycott related to the conflict in the Middle East.
“The significantly lower revenue and pre-tax loss incurred in the current quarter under review were mainly attributed to the prolonged impact from the ongoing sentiment in relation to the Middle East conflict,” BFood said in a filing with Bursa Malaysia.
The group is primarily engaged in developing and operating the Starbucks Coffee brand in Malaysia and Brunei, the Kenny Rogers Roasters chain in Malaysia, and producing, packaging, and distributing baked goods under the Paris Baguette brand in the Philippines.
BFood said the overall macro environment remains challenging; however, continued positive improvement has been observed with the implementation of strategic initiatives and programs by the group.
“Looking forward, we remain cautiously optimistic that operational performance will gradually improve over the coming quarters. The directors are committed to strengthening the group’s core business and investments.
“With these ongoing efforts, the board of directors is confident that the group will achieve further progress and stronger financial results,” it said.
