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Hot Stock Berjaya Corp dips 1.39% after 4Q losses widen
by Cals Fri 01 Jul 2016, 01:18
- Hot Stock
[size=28]Berjaya Corp dips 1.39% after 4Q losses widen
By Surin Murugiah / theedgemarkets.com | June 30, 2016 : 9:29 AM MYTKUALA LUMPUR (June 30): Berjaya Corp Bhd’s (BCorp) shares fell 1.39% in early trade today after its net loss widened by 34% to RM368.91 million or 7.13 sen loss per share in its fourth financial quarter ended April 30, 2016 (4QFY16) from RM274.97 million or 5.46 sen loss per share a year ago due to an impairment loss of RM770.82 million, of which RM473.2 million came from value of goodwill on Starbuck brand.
At 9.10am, BCorp fell half a sen to 35.5 sen with 2.31 million shares done.
The quarterly loss was despite a 6.9% increase in revenue to RM2.48 billion in 4QFY16, from RM2.32 billion in 4QFY15, on higher contribution from its property investment and development segment due to strong sales from a property project in China.
Nevertheless, BCorp has proposed a final dividend of three treasury shares for every 100 ordinary shares held for the approval of shareholders at the forthcoming annual general meeting. The final share dividend is equivalent to 2.16 sen per share.
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