PETALING JAYA: Berjaya Food Bhd (BFood) posted a net profit of RM14.27 million in the fourth quarter ended June 30, 2021 against a net loss of RM30.16 million a year ago; while revenue grew 62% to RM180.72 million from RM111.57 million previously.
BFood said its operations in the current quarter were not as adversely impacted compared with the preceding year’s same quarter, as lockdown measures were not prevalent then. The group was more prepared during this quarter compared with the previous year’s corresponding quarter and implemented various measures to operate more efficiently. Also, the group recognised the income upon termination of the old Starbucks reward programme.
For the full year (FY21), BFood saw a net profit of RM47.36 million compared with a net loss of RM19.58 million a year ago in tandem with the higher revenue recorded in the current financial year, coupled with the lower operating costs resulted from the effective cost management to mitigate the impact of Covid-19 pandemic.
Its revenue jumped 13% to RM717.27 million from RM632.94 million last year from higher same-store-sales growth with the gradual easing of the lockdown measures since the first quarter.
The board has declared a fourth interim dividend of 1 sen single-tier dividend per share in respect of FY21 to be payable on Sept 23. The total dividend declared for FY021 amounted to 3 sen single-tier dividend per share (FY20: 2 sen).
With the rising number of Covid-19 confirmed cases in Malaysia and the uncertainty in the economy caused by this prolonged pandemic, the directors are of the view that the group’s operating environment will remain challenging in the next financial year.
BFood is primarily engaged in developing and operating the Starbucks Coffee brand in Malaysia and Brunei, developing and operating the Kenny Rogers Roasters chain in Malaysia as well as Jollibean and various brands in Singapore.
Prior to the Covid-19 pandemic, the key factors that affected the performance of the group’s businesses included mainly the festive seasons, tourism, eating out culture, raw material costs, staff costs and consumer perception. Upon the onset of the Covid-19 pandemic since March 18, 2020 until now, certain of the key factors mentioned have been adversely impacted by the various restrictive measures implemented by the Malaysian government to curb the Covid-19 pandemic.