KUALA LUMPUR (June 27): Berjaya Corp Bhd booked a net profit of RM97.1 million in the fourth quarter ended April 30, 2019 (4QFY19), from a net loss of RM95.19 million a year earlier, thanks to higher profit from operations and a gain on disposal of a joint venture amounting to RM191.99 million.

This helped the group register quarterly earnings per share of 1.7 sen in the period, as against a 1.66 sen loss per share previously.

Revenue climbed 5.1% to RM2.22 billion from RM2.11 billion previously, thanks to higher revenue reported by the marketing of consumer products and services segment, as well as the hotels and resorts segment.

“The marketing of consumer products and services segment reported higher revenue, mainly because the overseas motor distribution business reported higher revenue from the sales of new models in the new car sector.

“However, the retail distribution business reportedly reduced revenue, as it was affected by the intense competition, the absence of any major product launches, as well as the reduced number of outlets,” BCorp said in a statement.

“The reduced number of outlets resulted from the group's ongoing efforts to rationalise the cost structure of the retail distribution business by scaling down the number of outlets via the progressive closing of non-performing outlets,” it added.

Meanwhile, the hotels and resorts segment reported higher revenue from higher average room rates, in spite of the overall lower occupancy rate.

Additionally, the gaming operations operated by Sports Toto Malaysia Sdn Bhd (STMSB) recorded higher revenue, despite the lower number of draws in the current quarter, the company added.

For the full year ended April 30, 2019 (FY19), BCorp narrowed its losses to RM1.78 million, from RM370.23 million in the previous year, thanks to a gain on disposal of a joint venture and subsidiary, amounting to RM191.99 million and RM76.64 million respectively.

The group also recorded higher profit from operations, despite revenue declining 3.49% to RM8.36 billion, from RM8.67 billion.

“The improved operating profit was due to improved performances from the marketing of consumer products and services segment, hotels and resorts segment, and gaming operations segment,” it said.

The revenue decline, meanwhile, was attributable to lower contribution from the marketing of consumer products and services segment, and the property segment, it added.

Shares of BCorp rose half a sen or 1.92% to close at 26.5 sen today, giving the group a market capitalisation of RM1.38 billion.