#Update* Berjaya Corp posts 4Q loss of RM250.5m, declares one sen dividend

-A +A

KUALA LUMPUR (June 30): Berjaya Corporation Bhd said it posted a net loss of RM250.45 million for the fourth quarter to end-April 2014, compared to a net profit of RM30.80 million a year ago.

The group registered an increased revenue of RM2.47 billion in the fourth quarter, as compared to RM2.05 billion in the previous year’s corresponding quarter.

“The improved revenue was mainly due to the consolidation of revenue from H.R. Owen PLC, a franchised motor vehicle dealer providing both sales and aftersales services in the United Kingdom,” said the mainly-gaming diversified group in a press release.

It said due to the “exceptional non-cash charges arising from impairment of certain goodwill, property, plant and equipment and lower profit contributions from associated companies”, the group registered a pre-tax loss of RM103.47 million for the fourth quarter as compared to a pre-tax profit of RM165.07 million previously.

For the full year to April 2014, the group posted a net loss of RM160.4 million, compared to a net profit of RM75.0 million the previous year.

But the group registered higher revenue of RM8.63 billion, as compared to RM7.38 billion in the previous financial year.

Berjaya Corp recommends a final dividend of 1% single-tier dividend per share. The entitlement date and the payment date of the proposed final dividend shall be announced later.

Looking ahead, it said: “Given the group's diverse businesses and the current economic outlook, the directors are of the view that the group's performance will continue to remain challenging for the financial year ending 30 April 2015.”