KUALA LUMPUR: Berjaya Corp
Bhd’s (BCorp) net profit surged to RM694.6mil in the third quarter ended March 31 (3Q24), compared with RM3.25mil a year ago.
The improved performance was mainly due to the improved results from the property, services and retail segments, as well as the gain on disposal of subsidiaries totalling RM497.91mil and gain on remeasurement of retained equity interest in a former subsidiary company of about RM154.05mil.
Revenue in 3Q24 rose to RM2.8bil against RM2.5bil a year ago mainly due to higher contributions from all segments, except for food retail segment.
BCorp said the lower revenue reported by the food retail business was mainly due to the current sentiment due to the conflict in the Middle East.
For the first nine months, the conglomerate posted a net profit of RM594mil on revenue of RM7.58bil.
Going forward, the group expects the performance of the domestic business segments to improve on the back of strong consumer spending and improvement in tourism activities.
“As for the gaming business, the closure of legal number forecast operation (NFO) outlets in Kedah and Perlis will result in the proliferation of illegal operators in these underserved areas.
Barring any unforeseen circumstances, the directors are cautiously optimistic that the performance of the business operations of the group for the remaining quarter of the financial year ending June 30, 2024 to be satisfactory.
