Berjaya Food first-quarter net profit more than doubles to RM10.37 million

PETALING JAYA: Berjaya Food Bhd (BFood) saw its net profit for its first quarter ended Sept 30 more than double to RM10.37 million, from RM4.6 million in the previous corresponding quarter mainly due to effective cost management implemented to mitigate the impact of Covid-19 pandemic, as well as improved performance of the group’s Kenny Rogers Roasters operations after closing down certain non-performing stores in the previous financial year.

Revenue also improved to RM180.72 million from RM180.44 million previously, making the group’s recovery comparable to pre-Covid-19 levels.

It also declared a first interim single tier dividend of 0.5 sen to be payable on Dec 29, 2020.

Looking ahead, despite the country experiencing the third wave of Covid-19 infections, BFood said it is cautiously optimistic that its performance will be satisfactory in the remaining quarters of the financial year as a majority of economic activities are still allowed to be conducted provided that the standard operating procedures laid
out by the National
Security Council are strictly adhered to.