AdminBerjaya Food falls into the red, posts RM91mil net loss in FY2024
PETALING JAYA:
Berjaya Food Bhd (BFood) has slipped into the red with a net loss of RM91.51 million in the financial year ended June 30 (FY2024) compared with a net profit of RM103.4 million in FY2023.
Revenue fell 34.2% to RM730.3 million from RM1.11 billion previously,
it said in a filing with Bursa Malaysia.
The operator of restaurants, cafe chains, and retail outlets said the lower revenue was attributed to current sentiment related to the conflict in the Middle East, as well as a one-off loss arising from the disposal of the group’s entire equity interest in Jollibean Foods Pte Ltd.
For the fourth quarter of FY2024 (Q4 2024), the group incurred a net loss of RM38.2 million compared with a net profit of RM17.28 million in Q4 FY2023.
BFood said its revenue declined by 59.1% to RM130.56 million from RM271.74 million previously, partly due to sentiment over the Middle East conflict.
The company did not recommend any dividend for the current quarter under review.
On prospects, BFood said its directors recognised the challenging market conditions and external pressures affecting the group’s business performance.
“Despite these difficulties, we remain cautiously optimistic and expect a gradual improvement in operational performance over the next financial year.
While recovery may be slow due to ongoing uncertainties, the directors believe that strategic adjustments and operational refinements will, in time, strengthen the group’s position and lead to better financial results,
it said.
At the close of trading, BFood’s share price was down by 1.5 sen or 2.88% at 50.5 sen, giving the group a market capitalisation of RM984 million.