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NewsHot Stock Berjaya Food slips 1.96% on lower profit in 3Q16
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Hot Stock Berjaya Food slips 1.96% on lower profit in 3Q16
by Cals Fri 11 Mar 2016, 01:30
- Hot Stock
[size=28]Berjaya Food slips 1.96% on lower profit in 3Q16
By Sangeetha Amarthalingam / theedgemarkets.com | March 10, 2016 : 10:36 AM MYTKUALA LUMPUR (March 10): Shares of Berjaya Food Bhd (BJFood), operator of Kenny Rogers Roasters and Starbucks Coffee chains, slipped 1.96% this morning on lower profit in its third quarter ended Jan 31, 2016 (3QFY16) results.
At 10.10am, the counter went down four sen to RM2 on thin trade of 90,900 shares, giving it a market capitalisation of RM770.4 million.
Yesterday, Berjaya Food Bhd (BJFood) saw net profit fall 14.3% to RM7.4 million or 1.97 sen per share in 3QFY16 from RM8.6 million or 2.43 sen per share a year ago.
The lower profit was a result of lower contribution from Kenny Rogers Roasters outlets in Malaysia amid prudent consumer spending after the implementation of the goods and services tax and depreciation of the ringgit.
Revenue for 3QFY16 grew 10% to RM147.2 million from RM133.48 million a year ago mainly due to higher sales recorded by existing cafes and additional cafes operating in the current quarter.
It recommended a third interim single-tier dividend of one sen per share for the financial year ending April 30, 2016.
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