KUALA LUMPUR (March 11): Berjaya Food Bhd (BFood) was the top gainer on Bursa Malaysia in the morning session on Friday (March 11), rising by 9.48% to touch an intraday high of RM3.35 during the session. A total of 521,900 shares were traded.
The stock pared some of its earlier gains to close up 23 sen or 7.52% at RM3.29, giving the company a market capitalisation of RM1.28 billion. A total of 714,600 shares changed hands. The stock has risen 53.02% year-to-date.
On Feb 10, BFood, which operates the Starbucks Coffee and Kenny Rogers Roasters chains of restaurants in Malaysia, reported a net profit of RM38.9 million for the second quarter ended Dec 31, 2021 (2QFY22), a 250% increase from RM11.1 million a year ago, coming in above consensus expectations.
First-half (1HFY22) net profit of RM50.5 million was also a 135% year-on-year jump from RM21.5 million for 1HFY21.
The improved performance was attributed to the pent-up demand following the easing of movement restrictions, benefiting the Starbucks and Kenny Rogers Roasters operations.