Berjaya Assets registered revenue of RM55.1 million and a pre-tax loss of RM1.9 million in the current quarter ended 31 March 2023 as compared to revenue of RM52.1 million and a pretax loss of RM4.6 million reported in the previous year’s corresponding quarter.
The higher Group’s revenue in the current quarter under review was mainly due to the group reporting a lower pre-tax loss of RM1.9 million in the current quarter under review primarily due to significantly higher revenue reported as explained above, however, the positive growth was dampened by the higher finance costs due to an increase in banks’ lending rates in this current quarter under review.
The higher overall occupancy rates, higher average room rates, and higher sales of theme park tickets reported by hotel and recreation business segments are due to an increase in the number of visitors after the relaxation of certain prohibited business activities since the transition to the endemic phase of COVID-19. The higher rental income reported by the property investment segment was attributed to higher monthly gross sales turnover by tenants and improved event rental.
For the cumulative nine months ended 31 March 2023, the Group registered a revenue of RM167.0 million and a pre-tax loss of RM5.5 million as compared to a revenue of RM122.1 million and a pre-tax loss of RM23.3 million reported in the preceding year corresponding period.
