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KUALA LUMPUR (Bernama) -- Berjaya Food Bhd has returned to the black with a net profit of RM47.36 million in the financial year ended June 30, 2021 (FY2021) against a net loss of RM19.58 million in FY2020.
In a filing with Bursa Malaysia today, Berjaya Food said the better earnings were in tandem with the higher revenue recorded in the current financial year, coupled with the lower operating costs as a result of effective cost management to mitigate the impact of the COVID-19 pandemic.
In terms of revenue in FY2021, the company said it improved to RM717.27 million from RM632.94 million previously, thanks to the gradual easing of the lockdown measures since the first quarter ended Sept 30, 2020 (Q1 FY2021), which resulted in higher same-store-sales growth of the group.
"Meanwhile, the company also declared a fourth interim dividend of one sen per share, payable on Sept 23, 2021.
"The entitlement date has been fixed for Sept 9, 2021 and the total dividend declared for FY2021 amounted to 3.0 sen single-tier dividend per share,” it said, adding that the total dividend declared for FY2020 was 2.0 sen single-tier dividend per share.
For Q4 FY2021, Berjaya Food also saw its earnings returning to the positive territory with a net profit of RM14.27 million versus a net loss of RM30.16 million in the corresponding quarter last year, with revenue increasing to RM180.72 million from RM111.57 million previously.
"The group's operations in the current quarter was not as adversely impacted as compared with the same quarter in the preceding year, as the lockdown measures were not prevalent then,” it said.
Berjaya Food added that the group was more prepared during this quarter as compared with the previous year's corresponding quarter by the implementation of various measures to operate more efficiently."The group registered higher pre-tax profit in the current quarter mainly arising from the recognition of income from the deferred revenue of Starbucks rewards upon termination of the old programme after the strategic implementation of a new Starbucks rewards programme in Malaysia ahead of schedule,” it said.
On prospects, Berjaya Food said the directors are of the view that the group's operating environment would remain challenging in the next financial year due to the rising number of COVID-19 cases in Malaysia and the economic uncertainty caused by the prolonged pandemic.