Berjaya Corp posts 1Q profit of RM35m

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KUALA LUMPUR (Sept 28): Berjaya Corp Bhd (BCorp) posted a net profit of RM35.06 million in its fiscal first quarter ended July 31, 2018 (1QFY19) against a net loss of RM43.4 million in the corresponding quarter a year ago, owing to a disposal gain.

The group registered earnings per share of 0.66 sen in 1QFY19 versus loss per share of 0.73 sen a year ago.

Revenue fell 2.57% year-on-year to RM2.14 billion from RM2.2 billion.

In a bourse filing, BCorp said it made a disposal gain amounting to RM76.6 million on a subsidiary company but that most of its business segments, including gaming, consumer products and services, and F&B, also showed improved operating results.

However, this was partly offset by the property investment and development, and hotel and resorts segments. The former was impacted by lower contribution from foreign projects and progress billings. Weak consumer sentiment, intense competition and lack of major product launches also affected its retail distribution business.

However, motor distribution revenue was boosted by new car sales.

The board of directors cautioned that the operating environment will be challenging going forward, given the prevailing economic conditions and global financial outlook.

BCorp closed unchanged at 29 sen for a market capitalisation of RM1.41 billion.