Friday 29 Mar 2024
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KUALA LUMPUR (Dec 13): Berjaya Food Bhd (BFood) saw a 15.5% rise in net profit to RM5.81 million in the second financial quarter ended Oct 31, 2017 (2QFY18), from RM5.03 million a year ago, which it attributed to the higher pre-tax profit recorded by Starbucks’ operation in Malaysia.

Lower losses incurred by the Kenny Rogers Roasters (KRR) operation in Indonesia arising from further closure of non-performing outlets, also helped boost profits, BFood said in a statement today.

Earnings per share grew to 1.55 sen in 2QFY18, from 1.34 sen in 2QFY17. Quarterly revenue also rose 7.8% to RM160.78 million, from RM149.11 million in 2QFY17, mainly due to additional operating Starbucks cafes in the current quarter under review.

It also declared a second interim dividend of one sen per share for the financial year ending April 30, 2018 (FY18), payable on Jan 26, 2018. 

For the cumulative six months (6MFY18), the group's net profit rose 11.1% to RM11.15 million, from RM10.04 million a year ago, while revenue was up 8.5% to RM315.17 million, from RM290.48 million in 6MFY17.

On prospects, BFood warned that the group's results in the next quarter (3QFY18) is expected to be adversely impacted by the one-off losses arising from the disposal of the KRR operations in Indonesia.

"Other than this one-off exceptional loss, the group expects Starbucks to maintain its revenue growth momentum to continue contributing positively to the group," the statement added.

"In addition, the management hopes that the operational and menu rationalisation of KRR, being implemented recently, will yield better results for the brand moving forward," BFood added.

BFood shares closed up one sen or 0.59% at RM1.70 today, giving the group a market capitalisation of RM548.28 million.

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