Berjaya Food returns to black in fourth quarter

PETALING JAYA: Berjaya Food Bhd returned to the black in the fourth quarter driven by sales of its Starbucks outlets and the disposal of its loss-making operation Kenny Rogers Roasters (KRR) in Indonesia.

For the fourth quarter ended April 30, Berjaya Food posted a net profit of RM837,000.

This compared with losses of RM3.37mil a year earlier, on the back of a 5.7% jump in revenue to RM160mil from RM151.4mil previously.

“The profit from operations improved by 105% mainly due to higher profit contributions from Starbucks operations in tandem with the higher revenue.

“Furthermore, there was no consolidation of the losses from PT Boga, which operates KRR operations in Indonesia following its disposal in the previous quarter,” it said in a filing with Bursa Malaysia.

Shares of Berjaya Food fell marginally by two sen to RM1.66 yesterday, in light of the weakness in the broader market.

Berjaya Food said it expected its operating performance to be encouraging going forward.

This would be driven by its Starbucks sales and disposal of its loss-making KKR Indonesia operation.

Cumulatively, for the full year ended April 31, Berjaya Food’s net profit fell 88% to RM1.4mil. This compared with RM11.4mil previously.

Meanwhile, its revenue for the year grew 5.6% or RM34.2mil to RM639.6mil from RM605.4mil a year earlier.

Berjaya Food operates 91 KKR restaurants nationwide.

It also operates 239 Starbucks coffee outlets in Malaysia and Brunei.