Berjaya Corp Q4 Profits Drops Significantly

Berjaya Corporation Berhad registered a 14% increase in revenue to RM2.34 billion in the current quarter ended 31 December 2022 from RM2.06 billion in the corresponding quarter of the previous year on the back of higher revenue reported from most of the Group’s business segments. Nevertheless, the Group reported a lower pre-tax profit of RM92.08 million in the quarter under review compared to a pre-tax profit of RM231.66 million in the preceding year’s corresponding quarter due to a substantial gain of RM161.10 million arising from the disposal of an associated company recorded in the previous year’s corresponding quarter.

The performance of the Group’s results in the quarter under review was contributed by retail (Food) segment which recorded a higher revenue mainly due to the opening of additional Starbucks cafe outlets in the current quarter. However, it reported a lower pre-tax profit due to margin compression as a result of higher operating expenses.

For the 6-month period ended, the Group yielded better results with revenue and pre-tax profit hitting RM4.58 billion and RM199.67 million respectively compared to the corresponding period in the previous year which registered RM3.44 billion revenue and RM148.49 million pre-tax profit. The profit from operations in the 6-month period jumped by a staggering 198% to RM293.28 million from RM98.30 million in the same period.

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