Berjaya Food 2Q net profit up 8% to RM1.62m

KUALA LUMPUR (Dec 8): Berjaya Food Bhd's net profit for the second quarter ended Oct 31, 2011 rose 8% to RM1.62 million from RM1.5 million a year earlier, due mainly to an increase of restaurant openings during the quarter.

It said on Thursday that revenue for the quarter increased 15.58% to RM18.18 million from RM15.73 million in 2010.

Earnings per share were 1.14 sen compared to 1.06 sen a year earlier.

It declared a first interim single-tier exempt dividend of 2 sen per share.

For the first six month ended Oct 31,2011, Berjaya Food’s net profit increased 9.54% to RM4.48 million from RM4.09 million. Revenue rose 15.60% from RM33.12 million to RM38.29 million.

Reviewing its performance, Berjaya Food said the higher revenue and pre-tax profit was mainly due to higher sales recorded as a result of additional restaurants operating during the current 6-month period as compared to the previous year corresponding period.

On its prospects, the company said that the opening of additional restaurants in the subsequent quarters in accordance with its business plan for Malaysia would likely enhance the its performance for the financial year ending April 30, 2012.