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PETALING JAYA: Berjaya Corporation Bhd (BCorp) reported a 62% increase in revenue to RM2.24 billion for the first quarter ended Sept 30, 2022 (Q1’23), compared with RM1.39 billion in the previous corresponding quarter, on the back of higher revenue reported from most of the group’s business segments which are retail (food), property, hospitality, and services.

Only the retail (non-food) segment contributed lower revenue mainly due to the lower revenue from HR Owen plc and the deconsolidation effect of a motor trading subsidiary.

The improved performance was a result of the resumption of international and domestic travel as well as the further relaxation of the Covid-19 standard operating procedures.

The group’s Q1’23 net loss of RM16.42 million showed improvement from a net loss of RM59.31 in the corresponding period last year.

“While the world is transitioning into endemicity and the recovery of the global and domestic economies is gaining momentum, the pace of recovery is somewhat affected by the rise of global inflation rates caused by the reduction of commodity supplies and supply chain disruptions as a result of the Russia-Ukraine war, Covid-19 lockdowns in China as well as the geopolitical tension.

“Taking into account the aforesaid and barring any unforeseen circumstances, BCorp is optimistic that the performance of the business operations of the group for the remaining quarters of the financial year ending June 30, 2023 to be satisfactory despite the pressure of the rising operating costs going forward,” BCorp said in a statement today.

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