BFood Records Loss Of RM42 Million In Q2 As Boycott Takes Its Toll

Franchise holder of Starbucks, Berjaya Food registered a revenue of RM182.55 million and pre-tax loss of RM39.81 million in the current quarter ended 31 December 2023 (Q2) as compared to a revenue of RM295.32 million and pre-tax profit of RM52.06 million reported in the previous year corresponding quarter.

The group said the drop in revenue was mainly due to the boycott in relation to the conflict in the Middle East. The pre-tax loss incurred in the current quarter under review was mainly due to the lower sales registered and a one-off loss arising from the disposal of the Group’s entire equity interests in Jollibean Foods Pte Ltd as disclosed in Notes A3 and A9(b).

Excluding the exceptional investment related expenses as disclosed in Note A3, the pre-tax loss would have been RM29.31 million as compared to pre-tax profit of RM52.06 million in the previous year corresponding quarter

For the 6-month period ended 31 December 2023, the Group’s revenue and pre-tax loss were RM461.09 million and RM11.49 million respectively as compared to a revenue and pre-tax profit of RM578.37 million and RM102.09 million respectively.

The Directors are of the opinion that the operating performance of the Group will show improvement in the remaining quarters of the financial year ending 30 June 2024. Furthermore, the Board of Directors believes that the operating performance will rebound and regain momentum, viewing the current situation as short-term and anticipating positive progress going forward.

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