This article first appeared in The Edge Financial Daily on June 14, 2019

KUALA LUMPUR: Berjaya Food Bhd registered a net profit of RM4.05 million in the three-month period ended April 30, 2019, compared with RM837,000 in the corresponding quarter a year ago, helped by higher Starbucks revenue and lower finance costs.

Revenue came in at RM169.93 million, up from RM160 million in the same quarter last year, mainly due to same-store-sales growth recorded by Starbucks Coffee Co Sdn Bhd as well as additional Starbucks cafes operating in Malaysia, it said in a filing with Bursa Malaysia yesterday. The group, which recently changed its financial year end to June 30, recommended a fourth interim dividend of one sen per share payable on July 26.

This brings total dividend declared for the financial period ended April 30 to four sen per share, similar to its previous corresponding financial period.

For the cumulative 12-month period from May 2018 to April 2019, Berjaya Food said its net profit stood at RM26.31 million, compared with RM1.18 million recorded for May 2017 to April 2018.

“The group expects the overall operating results for the remaining months (May and June) of the financial period (as a result of the change in financial year end to June 30, 2019) to be affected by the Muslim fasting month, which fell in May 2019,” said Berjaya Food.