KUALA LUMPUR (Aug 27): Berjaya Food Bhd (KL:BJFOOD) swung into the red with a RM38.2 million net loss in the fourth quarter ended June 30, 2024 (4QFY2024), from a net profit of RM17.28 million a year earlier, mainly due to the "current sentiment in relation to the conflict in the Middle East".

Loss per share was 2.16 sen, compared with earnings per share of 0.99 sen in 4QFY2023, according to its filing with Bursa Malaysia on Tuesday.

It did not declare any dividend for the period under review.

Revenue more than halved to RM130.57 million from RM271.75 million a year ago.

For the 12-month period (FY2024), Berjaya Food posted a net loss of RM91.52 million, from a net profit of RM103.4 million a year earlier, due weaker consumer sentiment and a one-off loss on disposal, from the sale of its entire equity interest in Jollibean Foods Pte Ltd (JFPL).

"Excluding the exceptional investment-related expenses, the pre-tax loss would have been RM76.84 million as compared to a pre-tax profit of RM148.73 million in the previous financial year," it added.

Revenue for the full year period fell to RM730.3 million from RM1.12 billion a year ago.

The group is primarily engaged in developing and operating the Starbucks Coffee brand in Malaysia and Brunei, developing and operating the Kenny Rogers Roasters (KRR) chain in Malaysia, as well as producing, packaging and dealing with baked goods under the Paris Baguette brand in the Philippines.

Shares in BFood slipped 1.5 sen or 2.9% to 50.5 sen at Tuesday’s closing, valuing the group at RM983.6 million. The counter is down 15.8% this year.