KUALA LUMPUR (Aug 18): Brahim’s Holdings Bhd’s net loss swelled to RM6.54 million in the second quarter ended June 30 2021 (2QFY21), from RM3.42 million a year earlier, as the group’s inflight catering services were impacted by the pandemic.

Quarterly revenue decreased 18.88% to RM6.54 million from RM8.06 million in 2QFY20, the group said in a filing with the bourse. 

The net loss was however smaller by 5.49% when compared with the RM6.92 million net loss reported for the immediate preceding quarter (1QFY21), with revenue down 8.53% from RM7.15 million.

Brahim’s said its in-flight catering and related services segment’s revenue decreased 20.16% to RM4.91 million, from RM6.15 million in 2QFY20, as it was hit by the continuing Covid-19 crisis. The segment’s operating loss improved to RM12.66 million, from RM23.25 million.

Meanwhile, the logistics and related services segment’s revenue fell 14.66% to RM1.63 million, from RM1.91 million a year earlier. The segment recorded an operating loss of RM80,000, compared with a net profit of RM488,000 in the corresponding quarter last year.

On prospects, Brahim’s said the in-flight catering division is expected to record an adverse performance for full-year 2021, due to Covid-19 implications.

“Even the prospects of the aviation segment remains sceptical and uncertain; any policies or incentives set and announce by the government with regards to the aviation industry will certainly give positive implications to this segment.

“It is expected for the aviation and hospitality industries to be able to recover progressively in the future,” it added.

Brahim’s said the logistics segment continues to maintain its business volume and contributes positively to the group’s financial position.

“This segment will continue efforts to acquire new customers and businesses to increase revenue stream,” it added.

Brahim’s share price closed 2.5 sen or 11.36% lower at 19.5 sen today, valuing the group at RM58.40 million.