Berjaya Food 1Q profit soars 131% to RM5.2m

Berjaya Food 1Q profit soars 131% to RM5.2m
Business & Markets 2013
Written by Jeffrey Tan of theedgemalaysia.com
Wednesday, 18 September 2013 18:23

KUALA LUMPUR (Sept 18): Berjaya Food Bhd’s net profit soared 131% year-on-year (y-o-y) to RM5.2 million in the first quarter ended July 31, 2013, from RM2.3 million a year ago.

In a filing to the stock exchange, the company said the phenomenal increase in profit was due to the full effect of share of results from Berjaya Starbucks Coffee Company Sdn Bhd.

Berjaya Food also said the consolidation of results of Jollibean Foods Pte Ltd in the reviewed quarter was a contributing factor too.

Meanwhile, 1Q group revenue surged 47.6% y-o-y to RM36.5 million versus RM24.7 million.

Berjaya Food attributed the larger revenue to additional restaurants in operation and the full effect of consolidating the revenue of Jollibean in the said quarter.

“Looking ahead, the board of directors is positive on the opening of additional restaurants in the following quarters of the financial year, in accordance with its business plan locally and in Indonesia,” said Berjaya Food.

“We are also optimistic on the share of results from Berjaya Starbucks, which will propel the group’s performance forward.”