Berjaya Corporation Berhad registered revenue of RM2.05 billion in the quarter ending 31 December 2021 as compared to RM1.94 billion in the corresponding quarter of the previous year despite the slight increase in revenue, the Company saw a significant PBT increase with RM231.65 million compared to RM35.875 million which is a 546% from the corresponding 2020 quarter.
The group added that the increased revenue for the quarter was primarily driven by the retail and hospitality segments. In the non-food retail segment, H.R. Owen PLC which operates in the United Kingdom, saw higher sales which were mainly generated from the used car sector, due to a continued supply shortage.
In the food retail segment, its revenues increased due to the easing of restrictions on travel and the gradual opening of public spaces. This segment saw a boost, especially from Starbucks Coffee outlets that showed higher same-store-sales growth. The hospitality segment was similarly buoyed by the gradual easing of Covid-19 restrictions with a small revival after several depressed quarters.
The services sector saw a drop due to STM Lottery Sdn Bhd (formerly known as Sports Toto Malaysia Sdn Bhd). The decrease was mainly due to a softer recovery after it resumed business operations on 14 September 2021 following the nationwide lockdown that was implemented from 1 June to 13 September 2021.
While the hospitality and retail segments helped increase BCorp’s pre-tax profit, the Company also gained from its disposal of a 30% stake in an associated company, Razer Fintech Holdings Ltd – BCorp continues to hold 19% stake in the company.
“This quarter’s results are a combination of several factors. The easing of Covid-19 restrictions was critical and presented a semblance of normalcy for our businesses, especially in the retail and hospitality segment. However, these positive results for the Group are also a reflection of the various business improvement initiatives that were undertaken by the operating companies,” said Jalil Rasheed, Group Chief Executive Officer of BCorp.
