Friday 29 Mar 2024
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KUALA LUMPUR (Aug 16): Berjaya Food Bhd’s (BFood) net profit soared 185% to RM40.66 million in the fourth quarter ended June 30, 2022 (4QFY22), from RM14.27 million a year ago, due to higher same-store-sales growth, particularly from its Starbucks outlets. 

Quarterly revenue came in sharply higher at RM291 million in 4QFY22 versus RM180.7 million a year ago. This lifted the group’s annual revenue to a record high of RM997.7 million for the financial year ended June 30, 2022 (FY22), compared with RM717.3 million in FY21. 

The group’s annual net profit soared to RM122.7 million — the highest since the financial year ended April 30, 2015. BFood changed its financial year from April 30 to June 30 in 2019. 

BFood has declared a fourth interim dividend of two sen per share, payable on Sept 22. This brings its full-year payout to 5.5 sen, up from three sen for the previous year, according to its bourse filing.

Earnings per share stood at 11.28 sen in the quarter under review, from 4.02 sen in the preceding year’s corresponding quarter. 

BFood said the 61% increase in quarterly revenue in 4QFY22 of RM291.27 million as compared with RM180.72 million a year earlier, was contributed by existing and newly-opened Starbucks outlets during FY22, coupled with the turnaround of the Kenny Rogers Roasters business performance.

The company’s latest income statement showed that profit from operations climbed nearly 144% year-on-year to RM69.8 million in 4QFY22, from RM28.63 million. 

“It was certainly a year of success and progress for the group despite facing the operational headwinds. We will continue to work hard towards sustaining our growth momentum as we enter the new financial year,” said BFood chief executive officer Datuk Sydney Quays. 

The group is primarily engaged in developing and operating the Starbucks brand in Malaysia and Brunei, and also the Kenny Rogers Roasters chain in Malaysia, as well as Jollibean and various brands in Singapore. 

In June, BFood had also announced its 50:50 joint venture with Paris Baguette Singapore, with plans to open the first Paris Baguette outlet in the Klang Valley by the end of 2022.

On Tuesday (Aug 16), BFood share price went up 29 sen or 7.2% higher at RM4.34, bringing a market capitalisation of about RM1.69 billion. Year-to-date, the counter has gained 103%.

Edited ByKathy Fong
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