Berjaya Food posts RM182.55m revenue for second quarter ended Dec 31 2023

PETALING JAYA: Berjaya Food Bhd (BFood) posted revenue of RM182.55 million for the second quarter ended Dec 31, 2023 compared with revenue of RM295.32 million in the previous year’s corresponding quarter.

The drop in revenue was primarily attributed to an ongoing boycott linked to the Middle East conflict.

The group’s pre-tax loss of RM39.81 million incurred in the current quarter under review was mainly due to lower sales registered and one-off loss arising from the disposal of the group’s entire equity interest in Jollibean Foods Pte Ltd (JFPL) in contrast to a pre-tax profit of RM52.06 million in the previous year’s corresponding quarter.

For the six-month period ended Dec 31, 2023, the group reported revenue of RM461.09 million and pre-tax loss of RM11.49 million. These figures represent a decrease compared with revenue of RM578.37 million and pre-tax profit of RM102.09 million recorded in the same period of the previous year. The decline in revenue and pre-tax loss was primarily attributed to the reasons mentioned earlier.

Excluding the one-off loss of RM10.5 million arising from the disposal of the group’s equity interest in JFPL, the pre-tax loss would have been RM0.98 million compared to a pre-tax profit of RM102.09 million in the previous year’s corresponding period.

The board does not recommend any dividend for the current quarter under review.

The directors are of the opinion that the operating performance of the group will show improvement in the remaining quarters of the financial year ending June 30, 2024.

Furthermore, the board of directors believes that the operating performance will rebound and regain momentum, viewing the current situation as short term and anticipating positive progress going forward.