For Q1 FY2024 Berjaya Food Berhad saw its revenue drop to RM278.53 million as compared to a revenue of RM283.05 million in the previous year’s corresponding quarter. The decrease it said was attributed to the lower sales recorded by the Group’s Kenny Rogers Roasters operations in Malaysia.
Pre-tax profit dropped to RM28.32 million from RM50.03 million in the previous year’s corresponding quarter. The decrease in amount was mainly due to the margin compression arising from inflationary pressure.
The Board has declared a first interim share dividend of 1 treasury share for every 100 ordinary shares held equivalent to 0.44 sen dividend per share (previous year corresponding quarter ended 30 September 2022: first interim dividend of 0.50 sen single-tier dividend per share) amounting to RM7.719 million in respect of financial year ending 30 June 2024 to be credited on 29 December 2023. The entitlement date has been fixed on 14 December 2023.
Looking ahead, BFood expects all the operating companies within the Group to remain on track for the remaining quarters of the financial year ending 30 June 2024. Berjaya Paris Baguette Sdn Bhd continues to perform at a better-than-expected level and new outlet openings are proceeding as planned. Berjaya Starbucks is expected to return to its revenue growth momentum once the challenging market conditions brought about by the recent conflict in the Middle East are back to normality.
To mitigate some of the challenging market conditions, the Group is focusing on Cost Optimization, Labour/Productivity Management, and Effective Marketing Strategies over the remaining quarters of the financial year ending 30 June 2024
