BFood Q3 earnings boosted by Starbucks, Kenny Rogers

PETALING JAYA: Berjaya Food Bhd (BFood) saw a net profit of RM8.98 million for the third quarter ended Jan 31 compared with a net loss of RM10.85 million a year ago, mainly due to higher profit contributions from its Starbucks operations in tandem with the higher revenue achieved as well as improved performance from the Kenny Rogers Roasters (KRR) ’s operations in the current quarter, with the absence of loss arising from the disposal of the group’s KRR operations in Indonesia.

It registered a 9.8% increase in revenue to RM180.54 million from RM164.44 million in the previous year’s corresponding quarter, mainly underpinned by the same-store- recorded by Starbucks as well as additional Starbucks cafes operating in Malaysia in the current quarter under review.

BFood has recommended a third interim dividend of 1.0 sen dividend per share for the quarter under review, payable on April 26.

For the nine-month period, BFood’s net profit jumped over 73 times to RM22.26 million from RM304,000 in the previous year’s corresponding period, while revenue rose 6% to RM508.50 million from RM479.61 million.

“The renewed consumer confidence level coupled with the group’s will fuel the group’s . This augurs well for the group’s operations going forward,” BFood said.

Source: The Sun Daily

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