BCorp’s Q1 rev­enue rises 4.2%

> Higher to RM2.22 bil­lion from RM2.14 bil­lion a year ago

The Sun (Malaysia) - - SUNBIZ -

PETALING JAYA: Ber­jaya Corp Bhd reg­is­tered a higher rev­enue of RM2.22 bil­lion for the first quar­ter ended July 31, 2016 com­pared with RM2.14 bil­lion a year ago, mainly due to higher rev­enue re­ported by the group’s var­i­ous busi­ness seg­ments.

The restau­rant and cafe busi­ness re­ported a higher rev­enue for the cur­rent quar­ter on higher sales recorded by ex­ist­ing cafes as well as ad­di­tional cafes op­er­at­ing in the cur­rent quar­ter.

The prop­erty in­vest­ment and de­vel­op­ment busi­ness rev­enue growth was mainly due to strong sales from a prop­erty project in China, while the ho­tels and re­sorts busi­ness saw higher over­all oc­cu­pancy and av­er­age room rates in the quar­ter un­der re­view.

The toto bet­ting op­er­a­tions op­er­ated by Sports Toto Malaysia Sdn Bhd, prin­ci­pal sub­sidiary of Ber­jaya Sports Toto Bhd, ben­e­fited from strong sales of the 4D Jack­pot game due to the high jack­pot in the cur­rent quar­ter un­der re­view.

The mar­ket­ing of con­sumer prod­ucts and ser­vices seg­ment how­ever, re­ported lower rev­enue as the re­tail dis­tri­bu­tion busi­ness was af­fected by un­favourable eco­nomic con­di­tions in the Greater China Mar­kets.

The quan­tum of de­crease was mit­i­gated by higher rev­enue re­ported from the mo­tor dis­tri­bu­tion busi­ness op­er­ated by H.R. Owen PLC due to higher sales vol­ume of new cars cou­pled with cer­tain new mod­els be­ing avail­able for sale.

Mean­while, the group reg­is­tered a lower pre-tax profit for the cur­rent quar­ter of RM71.61 mil­lion com­pared with RM183.84 mil­lion a year ago, mainly due to losses from the re­tail busi­ness and lower share of as­so­ci­ated com­pa­nies’ re­sults as a re­sult of the ces­sa­tion of eq­uity ac­count­ing for Ber­jaya Auto Bhd’s re­sults and share of higher losses from cer­tain as­so­ci­ated com­pa­nies.

In ad­di­tion, there was higher net in­vest­ment-re­lated in­come in the pre­vi­ous year’s cor­re­spond­ing quar­ter. The re­tail dis­tri­bu­tion busi­ness re­ported a pre-tax loss in the cur­rent quar­ter un­der re­view mainly due to un­favourable eco­nomic con­di­tions in China as com­pared with the pre­ced­ing year’s cor­re­spond­ing quar­ter.

The mo­tor dis­tri­bu­tion busi­ness re­ported a lower pre-tax profit in the cur­rent quar­ter un­der re­view mainly due to higher op­er­at­ing ex­penses in­curred while the lower pre-tax profit re­ported by the restau­rant and cafe busi­ness was mainly due to the de­pre­ci­a­tion of the ring­git, which had im­pacted the profit mar­gin of the busi­nesses in Malaysia.

The prop­erty in­vest­ment and de­vel­op­ment busi­ness con­trib­uted a higher pre-tax profit mainly due to strong sales.

The ho­tels and re­sorts busi­ness re­ported a higher pre-tax profit mainly due to higher rev­enue in the cur­rent quar­ter as com­pared with the pre­vi­ous year’s cor­re­spond­ing quar­ter while the gam­ing busi­ness con­trib­uted a higher pre-tax profit mainly due to lower prize pay­out in the cur­rent quar­ter un­der re­view.

“Given the pre­vail­ing eco­nomic con­di­tions and fi­nan­cial out­look, the di­rec­tors are of the view that the group’s op­er­at­ing en­vi­ron­ment will be very chal­leng­ing go­ing for­ward,” BCorp said in a state­ment.

Newspapers in English

Newspapers from Malaysia

© PressReader. All rights reserved.