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PETALING JAYA: Berjaya Food Bhd’s (BFood) net profit for the third quarter ended March 31, 2022 more than doubled to RM31.58 million from RM11.61 million a year ago in tandem with higher revenue recorded for the three months.

Its revenue increased 35% to RM246.00 million from RM181.73 million in the previous year’s corresponding quarter on the back of higher same-store-sales growth, particularly from the Starbucks café outlets, as a result of the improved mobility upon the resumption of domestic tourism and further relaxation of the Covid-19 standard operating procedures (SOP).

For the nine-month period, BFood’s net profit more than doubled to RM82.08 million from RM33.1 million a year ago, while revenue increased 31.67% to RM706.47 million from RM536.55 million, due mainly to higher same-store sales growth, particularly from the Starbucks café outlets, in line with the resumption of domestic tourism and relaxation of Covid-19 SOP which improved consumer mobility.

BFood declared a third interim dividend of 1.50 sen single-tier dividend per share, and total dividend declared for the financial period ended March 31, 2022 amounted to 3.50 sen single tier dividend per share.

With the further easing of restrictions and the opening of international borders, BFood expects the overall operating results of the group to be satisfactory for the remaining quarter of the financial year ending June 20, 2022.

BFood CEO Datuk Sydney Quays said: “Consumers are easing back into normalcy as we move towards an endemic stage and this augurs well for the group. We hope to continue this positive growth momentum as we move into the final quarter of the financial year ending June 30, 2022.”

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