Snippets
BFood on its Q3 results for financial year 2019
Focus Malaysia 15 Mar 2019 11:02

For the Third Quarter Ended 31 January 2019

Berjaya Food Berhad (“BFood”) registered an increase of about 10% in revenue to RM180.54 million from RM164.44 million in the previous year’s corresponding quarter mainly due to the same-store-sales growth recorded by Berjaya Starbucks Coffee Company Sdn Bhd (“BStarbucks”) as well as additional Starbucks cafes operating in Malaysia in the current quarter under review.

The Group registered an increase in pre-tax profit to RM14.68 million as compared to the pre-tax loss of RM4.84 million reported in the previous year’s corresponding quarter. The Group’s pre-tax profit improved significantly 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”) Malaysia's operations in the current quarter, whereas in the previous year corresponding quarter, the Group incurred a pre-tax loss arising from the disposal of the Group's KRR operations in Indonesia.

For the 9-month period

The Group registered a higher revenue of RM508.5 million as compared to RM479.61 million in the previous year’s corresponding period mainly due to the same-store-sales growth recorded by BStarbucks as well as additional Starbucks cafes operating in Malaysia in the current period under review.

Pre-tax profit was higher at RM37.14 million compared to RM13.43 million in the previous year’s corresponding period as a result of the improvement in the Group’s profit from operations due to higher revenue and profit contributions from its Starbucks operations. The pre-tax profit in the previous year’s corresponding period was also impacted by the abovementioned loss from disposal of a subsidiary company.

Dividend
The Board has recommended a third interim dividend of 1.0 sen single-tier dividend per share (previous year’s corresponding quarter ended 31 January 2018: third interim dividend of 1.0 sen single-tier dividend per share) in respect of the financial year ending 30 April 2019 to be payable on 26 April 2019. The entitlement date has been fixed on 11 April 2019. The total dividend declared for the financial period ended 31 January 2019 amounted to 3.0 sen single-tier dividend per share (previous corresponding financial period ended 31 January 2018: 3.0 sen single-tier dividend per share).

Future Prospects
The renewed consumer confidence level coupled with the Group's expansion plans will fuel the Group's business growth. This augurs well for the Group's operations going forward.



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