PETALING JAYA: Berjaya Food Bhd’s (BFood) net profit for the first quarter ended Sept 30, 2022 (Q1’23) almost tripled to RM34.70 million from RM11.63 million in the previous year’s same quarter, in tandem with higher revenue coupled with the turnaround in the Kenny Rogers Roasters business.
Revenue surged 50.78% from RM283.05 million compared with RM187.72 million in the previous year’s corresponding quarter, mainly due to higher same-store-sales growth, particularly from existing Starbucks outlets as well as full-quarter effect of new Starbucks outlets opened in the previous financial year.
The group declared a first interim dividend of 0.50 sen single-tier dividend per share, payable on Dec 20, 2022. The dividend per share for the previous year has been adjusted for the bonus issue on the basis of four bonus shares for every one ordinary share.
On prospects, the group said it expects Berjaya Starbucks Coffee Company Sdn Bhd to maintain its revenue growth momentum and anticipates that the operating results 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 has ended Q1’23 on a positive note with an encouraging result.
“Despite inflationary pressures, the group will continue to work on managing its operational costs effectively and sustaining its growth momentum for the rest of the financial year,” he said in a statement today.