KUALA LUMPUR (Feb 10): Berjaya Food Bhd’s net profit more than tripled to RM38.88 million for the second quarter ended Dec 31, 2021 (2QFY22), from RM11.12 million a year prior, on the back of a higher revenue, coupled with an improved performance from its Kenny Rogers Roasters operations. 

In a filing, the group said quarterly revenue grew 56.67% to RM272.75 million from RM174.1 million, mainly due to higher same store sales growth, particularly from its Starbucks outlets.

“With the resumption of interstate and overseas travel starting from Oct 11, 2021, together with the festive sales and Christmas season, the group recorded a significant increase in revenue,” said Berjaya Food.

Similarly, on a quarter-on-quarter basis, the group’s net profit more than tripled from RM11.63 million in 1QFY22, while revenue rose 45.3% from RM187.72 million.

The group has declared a second interim dividend of one sen per share to be paid on March 30, with an ex-date of March 14.

In a statement, Berjaya Food said with the further easing of restrictions and resumption of interstate and overseas travel, the group expects its overall operating results to gradually improve for the remainder of FY22.

“While the year has been extremely challenging in many aspects, the vast improvement in our second quarter results is testament to the resilience of the various businesses within the group.

“We hope to continue our growth trajectory as the country gradually recovers from the pandemic,” said Berjaya Food chief executive officer Datuk Sydney Quays.

Shares of Berjaya Food closed 18 sen or 8.11% higher at RM2.40 on Thursday (Feb 10), giving the group a market capitalisation of RM934.86 million.