PETALING JAYA: Berjaya Food Bhd (BFood) posted revenue of RM130.57 million for the fourth quarter ended June 30, 2024 (Q4’24) compared to revenue of RM271.75 million in the previous year’s corresponding quarter.
The group incurred a pre-tax loss of RM42.69 million in the quarter under review compared to pre-tax profit of RM29.04 million in the previous year’s corresponding quarter.
The lower revenue and the pre-tax loss incurred in the quarter under review were primarily attributed to the current sentiment in relation to the conflict in the Middle East.
For the financial year ended June 30, 2024, the group reported revenue of RM730.3 million and pre-tax loss of RM87.34 million, compared to revenue and pre-tax profit of RM1.12 billion and RM148.73 million, respectively, recorded in the same period of the previous year. The decline in revenue and the pre-tax loss was primarily attributed to the current sentiment in relation to the conflict in the Middle East and a one-off loss arising from the disposal of the group’s entire equity interest in Jollibean Foods Pte Ltd.
Excluding exceptional investment-related expenses, the pre-tax loss would have been RM76.84 million compared to a pre-tax profit of RM148.73 million in the previous financial year.
The board does not recommend any dividend for the quarter under review.
“The directors recognise the challenging market conditions and external pressures affecting the group’s business performance. Despite these difficulties, we remain cautiously optimistic expecting a gradual improvement in operational performance over the next financial year,” said BFood in a statement.
It said that while recovery may be slow due to ongoing current uncertainties, the directors believe that strategic adjustments and operational refinements will, in time, strengthen the group’s position and lead to better financial results.
