This article first appeared in The Edge Financial Daily on August 21, 2019

KUALA LUMPUR: Starbucks Coffee Malaysia operator Berjaya Food Bhd (BFood) reported a net profit of RM203,000 for the two-month period ended June 30, 2019, against a revenue of RM110.76 million.

No comparative figures were given in BFood’s stock exchange announcement yesterday on its earnings for the period, due to the change of financial year-end from April 30 to June 30.

However, the group, which also operates the Kenny Rogers Roasters chain in Malaysia, as well as Jollibean and two other brands in Singapore, said its revenue and pre-tax profit, impacted by the Muslim fasting month, fell in the period under review.

The pretax profit also included fixed assets written off and expenses incurred arising from the closure of non-performing stores, it added.

For the 14-month period, the group registered a net profit of RM26.51 million, with a revenue of RM789.19 million.

BFood expects its Starbucks operations to maintain a revenue growth momentum and said it will expand both its income streams from new franchise business besides its existing business to remain competitive.

“With these, the directors anticipate that the operating results of the group will remain satisfactory in the ensuing financial year ending June 30, 2020,” it added.

Shares in BFood closed one sen or 0.63% lower at RM1.57, bringing a market capitalisation of RM563.05 million.