PETALING JAYA: Berjaya Food Bhd (BFood) posted slightly lower revenue of RM278.53 million for the first quarter ended Sept 30, 2023, compared with revenue of RM283.05 million in the previous year’s corresponding quarter.
The decrease in revenue was attributed to lower sales recorded by the group’s Kenny Rogers Roasters operations in Malaysia.
The group’s pre-tax profit dropped to RM28.32 million from RM50.03 million in the previous year’s corresponding quarter. The decrease was mainly due to margin compression arising from inflationary pressure.
BFood’s board of directors has declared a first interim share dividend of one treasury share for every 100 ordinary shares held, equivalent to 0.44 sen dividend per share (previous year corresponding quarter ended Sept 30, 2022: first interim dividend of 0.50 sen single-tier dividend per share) amounting to RM7.719 million in respect of financial year ending June 30 2024 to be credited on Dec 29, 2023. The entitlement date has been fixed on Dec 14, 2023.
As to prospects, the board expects all operating companies within the group to remain on track for the remaining quarters of the financial year ending June 30, 2024 (FY24).
Berjaya Paris Baguette Sdn Bhd continues to perform at a better-than-expected level and new outlet openings are proceeding as planned. Berjaya Starbucks is expected to return to its revenue growth momentum once the challenging market conditions brought about by the conflict in the Middle East recent to normality.
To mitigate the challenging market conditions, the group is focusing on cost optimisation, labour/productivity management and effective marketing strategies over the remaining quarters of FY24.