Ber­jaya Food net profit higher from Star­bucks boost

The Star Malaysia - StarBiz - - News -

PETALING JAYA: Ber­jaya Food Bhd’s (BFood) net profit rose 21% to RM7mil for the sec­ond quar­ter (Q2) ended Oct 31, 2018, from RM5.8mil in the cor­re­spond­ing quar­ter last year on higher con­tri­bu­tions from its Star­bucks op­er­a­tions in tan­dem with higher rev­enue.

In its fil­ings, the group said its Q2 rev­enue rose 3.6% to RM166.6bil from RM160.8mil in the cor­re­spond­ing pe­riod mainly due to the same-store-sales growth recorded by Star­bucks as well as ad­di­tional Star­bucks cafes op­er­at­ing in Malaysia.

BFood’s earn­ings per share (EPS) rose to 1.89 sen from 1.55 sen pre­vi­ously. The group de­clared a sec­ond in­terim div­i­dend of one sen per share.

Dur­ing the quar­ter in re­view, BFood reg­is­tered an in­crease in pre­tax profit to RM11.46mil from RM9.51mil in the pre­vi­ous cor­re­spond­ing quar­ter.

“The group’s profit from op­er­a­tions im­proved 12% mainly due to higher profit con­tri­bu­tions from Star­bucks op­er­a­tions in tan­dem with the higher rev­enue achieved,” it said.

“In ad­di­tion, the group had ceased con­sol­i­da­tion of the losses from its Kenny Rogers Roast­ers op­er­a­tions in In­done­sia fol­low­ing its dis­posal in the pre­vi­ous fi­nan­cial year. The pre­tax profit in­creased ac­cord­ingly in tan­dem with the in­crease in profit from op­er­a­tions,” it said.

For the six months to Oc­to­ber 2018, BFood’s net profit rose 19% to RM13.3mil from RM11.2mil in the pre­vi­ous cor­re­spond­ing pe­riod, and its cu­mu­la­tive EPS rose to 3.54 sen from 2.97 sen pre­vi­ously.

The group’s six-month rev­enue rose 4% to RM328mil from RM315.2mil pre­vi­ously. It at­trib­uted the in­crease in rev­enue to higher growth recorded by ex­ist­ing Star­bucks cafes as well as ad­di­tional Star­bucks cafes op­er­at­ing in Malaysia.

BFood’s shares fell two sen to close at RM1.33 yes­ter­day.

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