PETALING JAYA: Berjaya Food Bhd (BFood) recorded higher revenue of RM265.85 million in the third quarter ended March 31, 2023, compared with RM246.00 million in the corresponding quarter of the previous year.
The increase was attributed to the opening of additional Starbucks cafes during the quarter under review.
The group posted a RM25.39 million pre-tax profit for the quarter compared with RM46.26 million in the previous year’s corresponding quarter, mainly due to margin compression arising from inflationary pressures thus incurring a higher operating costs.
For the nine-month period, the group recorded revenue and pre-tax profit of RM844.22 million and RM127.48 million respectively, which were higher compared to revenue and pre-tax profit of RM706.47 million and RM125.55 million respectively in the previous year’s corresponding period.
The better revenue was mainly due to higher same-store-sales growth particularly from the Starbucks cafe outlets as well as the additional Starbucks cafes operating in Malaysia.
The pre-tax profit remained relatively unchanged compared with the previous year’s corresponding period, primarily attributable to the abovementioned reasons.
The board has declared a third interim dividend of 0.50 sen single-tier dividend per share for the financial year ending June 30, 2023. The dividend will be payable on June 23, 2023.
“The board of directors expects BStarbucks to maintain its revenue growth momentum, and anticipates that the operating results of the group will remain satisfactory for the remaining quarter of financial year ending June 30,2023, despite facing inflationary pressures on its operating costs,” BFood said in a filing with Bursa Malaysia.
