BUSINESS

Berjaya Corp's net loss narrows to RM16.41 mln in Q1

30/11/2022 07:10 PM

KUALA LUMPUR, Nov 30 (Bernama) -- Berjaya Corporation Bhd’s (BCorp) net loss narrowed to RM16.41 million in the first quarter ended Sept 30, 2022 compared with net loss of RM59.31 million registered in the corresponding quarter a year ago.

However, revenue for the quarter climbed to RM2.24 billion from RM1.39 billion.

“With the resumption of international and domestic travel and further relaxation of the COVID-19 standard operating procedures, most of the business segments of the group reported higher revenue,” it said in a filing with to Bursa Malaysia today.

On its retail segment, BCorp said the lower revenue from the non-food retail business segment was mainly due to lower revenue from HR Owen Plc and the deconsolidation effect of a motor trading subsidiary.

“The lower revenue from HR Owen was also affected by the unfavaourable foreign exchange effect. In fact, HR Owen registered a revenue growth of 7.1 per cent in its reporting currency, sterling pound, which was driven by the higher sales from the new car sector,” it added.

Meanwhile, the higher revenue reported by the food retail business was mainly due to higher same-store-sales growth particularly from Starbucks Cafe outlets as well as the full quarter effect of the new Starbucks cafe outlets opened during the previous financial year.

-- BERNAMA


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