BFood posts RM11.6m profit, declares 1 sen dividend

The higher revenue is due to the higher same-store-sales growth resulted from the easing of Covid relaxations 


BERJAYA Food Bhd’s (BFood) net profit rose 12.1% to RM11.63 million in the first quarter ended Sept 30, 2021 (1Q22), from RM10.37 million a year earlier as businesses returned to normalcy under the National Recovery Plan. 

Revenue for the quarter increased 3.87% to RM187.72 million from RM180.72 million previously, according to the group’s filing to Bursa Malaysia yesterday. 

According to BFood, the higher revenue was due to the higher same-store-sales growth, particularly from Starbucks outlets, as business trends towards normalcy with the gradual easing of restrictions for people fully vaccinated against Covid-19. 

It said this was coupled with the gradual easing of restrictions to the general public who have been fully vaccinated against Covid-19, thus allowing for dine-ins. 

The group registered a higher earnings per share of 3.26 sen for the period compared to 2.93 sen a year ago. 

BFood has declared a first interim dividend of one sen single-tier dividend per share for the quarter. 

The group announced a first interim dividend of 0.50 sen, a single-tier dividend per share for 1Q20, in respect of the financial year ending June 30, 2022, to be paid on Dec 30, 2021. 

The entitlement date has been fixed on Dec 15, 2021. 

The group said with the lifting of restrictions and the resumption of interstate and overseas travel, the directors expect the overall operating results of Berjaya Food to improve gradually for the remaining quarters of the financial year. 

BFood is primarily engaged in developing and operating the “Starbucks Coffee” brand in Malaysia and Brunei, developing and operating the Kenny Rogers 

Roasters chain in Malaysia, as well as Jollibean and various brands in Singapore. Prior to the Covid-19 pandemic, it noted that the key factors which affected the performance of the group’s businesses include the festive seasons, tourism, eating out culture, raw material costs, staff costs and consumer perception. 

The group added that upon the onset of the Covid-19 pandemic since March 18, 2020 till to-date, certain of the aforesaid key factors are adversely impacted by the various restrictive measures implemented by the government to curb the Covid-19 pandemic.