Berjaya Corp’s Q4 top line at RM2.11 billion

PETALING JAYA: Berjaya Corp Bhd’s (BCorp) revenue slipped 5.5% to RM2.11 billion for the fourth quarter ended April 30 against RM2.23 billion in the previous corresponding period, mainly due to lower revenue reported by the marketing of consumer products and services as well as the property investment and development business segments.

It reported a pre-tax loss of RM43.05 million for the current quarter compared with a pre-tax profit of RM62.22 million in the same quarter a year ago.

Excluding the impairment provision of various assets and unfavourable foreign exchange difference of RM101 million, the group would have recorded a pretax profit of RM57.95 million.

The conglomerate said in a filing with the stock exchange that lower contribution from the marketing of consumer products and services segment was due to weak consumer sentiment coupled with the intense competition in the local and overseas markets.

The motor distribution business under H.R. Owen PLC reported lower revenue from the new car sector.

The property investment and development segment registered lower revenue as contribution from the group’s foreign projects were significantly reduced as well as lower progress billings.

However, the restaurants and cafes segment reported a higher revenue mainly due to additional Starbucks cafes operating as well as the same-store-sales growth recorded in Malaysia.

The higher revenue from the gaming operations was mainly due to higher contribution from both the gaming operations in Vietnam and Sports Toto Malaysia Sdn Bhd.

BCorp’s full-year revenue declined 5.6% to RM8.67 billion from RM9.18 billion, with a pre-tax loss of RM127.91 million versus a pre-tax profit of RM662.63 million a year ago.

Given the prevailing economic conditions and global financial outlook, the directors are of the view that the group’s operating environment will be challenging going forward.