PETALING JAYA: Berjaya Food Bhd (BFood) registered a higher revenue of RM295.32 million for the second quarter ended Dec 31, 2022 (Q2’23) compared with RM272.75 million in the previous year’s corresponding quarter, attributed to the opening of additional Starbucks cafes in the quarter under review.
The group posted a RM52.06 million pre-tax profit compared with RM60.28 million in the previous year’s corresponding quarter, mainly due to margin compression as a result of higher operating costs incurred.
For the six months ended Dec 31, 2022, the group recorded revenue and pre-tax profit of RM578.37 million and RM102.09 million, respectively, which were higher compared with revenue and pre-tax profit of RM460.47 million and RM79.29 million, respectively, in the previous year’s corresponding period.
The improved revenue was mainly due to the higher same-store-sales growth particularly from the Starbucks cafe outlets as well as the additional Starbucks cafes operating in Malaysia while the higher pre-tax profit was in tandem with the higher revenue.
BFood has declared a second interim dividend of 2 sen single-tier dividend per share for the financial year ending June 30, 2023 to be payable on March 22, 2023. The entitlement date has been fixed on March 8, 2023.
The group expects BStarbucks to maintain its revenue growth momentum, and anticipates that the operating results of the group will remain satisfactory for the remaining quarters of the financial year ending June 30 2023, despite facing inflationary pressures on its operating costs.
BFood CEO Datuk Sydney Quays said the group is optimistic of its prospects for the financial year ending June 30, 2023.
“Moving forward, the group will continue to focus on managing its operational costs effectively and sustaining its growth momentum for the remaining quarters of this financial year,” he said in a statement today.