KUALA LUMPUR (Sept 18): Berjaya Food Bhd (BFood), which operates the Starbucks Coffee chain in Malaysia and Brunei, the Kenny Rogers Roasters (KRR) chain in Malaysia and Jollibean in Singapore, saw its net profit rise 16.9% to RM6.24 million in the first financial quarter ended July 31, 2018 (1QFY19) from RM5.34 million a year ago, on higher profit contributions from Starbucks operations in tandem with the higher revenue achieved.

BFood also attributed the improved quarterly earnings to it ceasing consolidation of the losses from its KRR operations in Indonesia following its disposal in the previous financial year ended April 30, 2018 (FY18), according to the group's Bursa Malaysia filing.

This resulted in higher earnings per share of 1.66 sen for 1QFY19 compared with 1.43 sen for 1QFY18.

Quarterly revenue also came in 4.5% higher at RM161.38 million from RM154.39 million in 1QFY18, mainly due to same-store sales growth recorded by Starbucks, as well as additional Starbucks cafes operating in Malaysia compared with the previous year's corresponding quarter.

BFood has recommended a first interim dividend of one sen per share for FY19, payable on Oct 26.

On prospects, BFood believes that the renewed consumer confidence level is expected to fuel the group's business growth, which should augur well for the group's operations going forward.

BFood shares closed one sen or 0.72% higher at RM1.39 today, with 144,900 shares done, bringing a market capitalisation of RM522.87 million.