KUALA LUMPUR (Feb 9): Berjaya Food Bhd’s net profit rose 39% to RM11.12 million for the second quarter ended Dec 31, 2020, from RM8.01 million a year ago. Earnings per share increased to 3.14 sen from 2.24 sen.

In a statement today, the group said revenue was lower by 5% at RM174.1 million against RM184.12 million previously, mainly due to lower footfall in stores as a result of the growing concern on the increasing number of Covid-19 confirmed cases, as well as closure of certain non-performing stores.

Despite lower revenue, the group said it recorded higher profit in the quarter, thanks to the implementation of effective cost management.

Berjaya Food announced a second interim dividend of 0.5 sen per share, to be paid on March 26.

For the first half, Berjaya Food’s net profit climbed 70% to RM21.49 million, from RM12.62 million in the previous year’s January-June period, though revenue dipped 3% to RM354.82 million from RM364.56 million.

Looking ahead, Berjaya Food said the operating environment will remain challenging, given the implementation of the second movement control order in all states in Malaysia except for Sarawak.

Shares of Berjaya Food closed unchanged at RM1.51, for a market capitalisation of RM535.4 million.