KUALA LUMPUR (May 23): Brahim's Holdings Bhd reported its eighth straight quarterly loss since June 30, 2015 in the first quarter ended March 31, 2017 (1QFY17), posting a smaller net loss of RM1.85 million, compared with RM5.03 million a year ago, on improvement in revenue of its flight catering business.

Quarterly revenue rose 18% to RM71.34 million, from RM60.45 million in 1QFY16.

In a filing with Bursa Malaysia today, Brahim's said the in-flight catering and related services segment's revenue for 1QFY17 increased 18.9% to RM69.22 million, from RM58.20 million in 1QFY16.

The performance of its food and beverage (F&B) segment, however, was lower than the corresponding period. Revenue for the current quarter was RM210,000, down 32% from RM309,000 in 1QFY16.

On prospects, Brahim's said the 2QFY17 outlook for the in-flight catering and related services division is expected to remain positive, in view of expected revenue improvement from non-airline catering sector.

"To manage its cost, management will continue with the cost saving initiatives which were implemented last year, as part of its business plan," it added.

On the logistics segment, Brahim's said it continues to maintain its business volume and it is relooking into its operations to streamline its cost structure.

It noted revenue contributed by the logistics and related services segment remained challenging in 1QFY17, registering a marginal 2.2% decline to RM1.82 million, from RM1.87 million a year ago.

Brahim's shares closed down 0.5 sen or 0.7% at 70.5 sen today, with 260,500 shares done, bringing it's market capitalisation to RM166.58 million.