Petaling Jaya, 22 Jun 2018,
Berjaya Food Bhd returned to the black in the fourth quarter driven by sales of its Starbucks outlets and the disposal of its loss-making operation Kenny Rogers Roasters (KRR) in Indonesia.
For the fourth quarter ended April 30, Berjaya Food posted a net profit of RM837,000.
This compared with losses of RM3.37mil a year earlier, on the back of a 5.7% jump in revenue to RM160mil from RM151.4mil previously.
“The profit from operations improved by 105% mainly due to higher profit contributions from Starbucks operations in tandem with the higher revenue.
Shares of Berjaya Food fell marginally by two sen to RM1.66 yesterday, in light of the weakness in the broader market.
Berjaya Food said it expected its operating performance to be encouraging going forward.
Source: The Star Daily
Read more: https://www.thestar.com.my/business/business-news/2018/06/22/berjaya-food-returns-to-black-in-fourth-quarter/