KUALA LUMPUR: Berjaya Food Bhd
registered a decrease in both topline and bottomline in the fourth quarter of its financial year due to the lower sales achieved and margin compression arising from inflationary pressures and an unfavourable foreign exchange rate against the US dollar.
For the quarter ended June 30, 2023, the restaurant chain operator said net profit was RM17.28mil, which was less than half RM40.66mil recorded in the same quarter in 2022.
The group's earnings per share slumped to 0.99 sen as compared to 2.26 sen.
Revenue meanwhile was down to RM271.75mil from RM291.27mil in 4QFY22.
The board of directors declared a fourth interim dividend of 0.5 sen a share, with entitlement date on Sept 12, 2023, and payable on Sept 26, 2023.
Over the course of the 2023 financial year, Berjaya Food's net profit was RM103.41mil, down from RM124.78mil in the previous year, while revenue was RM1.12bil, up from RM997.76mil.
"The higher revenue was mainly due to aggressive marketing campaigns and effective promotion strategies in the current financial year under review, as well as the additional stores operating in Malaysia," it said in a statement.
The board of directors said it expects Starbucks to maintain its revenue growth momentum and the group's operating results to remain satisfactory in the coming year ending June 30, 2024.
