Berjaya Corp's Q3 net loss hits RM92.34m, hospitality and retail weigh on earnings
KUALA LUMPUR, May 31 — Berjaya Corporation Bhd (BCorp) posted a net loss of RM92.34 million in the third quarter ended March 31, 2025 (3Q) compared with a net profit of RM689.92 million in 3Q a year ago due to losses in the property, hospitality, and retail food segments.
In a Bursa Malaysia filing today, it said revenue decreased to RM2.54 billion from RM2.78 billion previously, mainly due to lower contributions from the property and retail food segments.
The food retail business reported a higher pre-tax loss in the current quarter, mainly due to the weaker performance of Kenny Rogers Roasters operations and additional pre-operating costs incurred for the group's new overseas operations.
'However, the non-food retail business reported a higher pre-tax profit, mainly driven by the strong performance of H.R. Owen Plc, in line with the increased revenue achieved in the current quarter.
'This improvement offset the lower results from Cosway operations, as a result of the closure of non-performing stores in certain countries,' it said in a separate statement.
The hospitality segment reported higher pre-tax loss mainly due to higher operating expenses incurred in 3Q of its financial year ending June 30, 2025 (FY2025).
'The lower revenue reported by the food retail business was mainly due to a reduced number of Starbucks cafes in operation compared to the previous year's corresponding quarter, as well as the cessation of Papa John's Pizza operations in the Philippines during the current quarter,' it said.
In addition, it said the property segment reported lower revenue mainly due to the completion of The Tropika, Bukit Jalil project in the final quarter of the previous financial year.
'However, this decline was mitigated by higher sales of residence units from a local project in the current quarter under review,' it said.
For the cumulative nine-month period, the group posted a net loss of RM348.87 million compared with a net profit of RM580.23 million previously, while revenue declined to RM6.97 billion from RM7.58 billion previously.
On prospects, BCorp said the group will monitor the prevailing global and local political developments in countries where it has business operations.
'Meanwhile, the performance of the domestic business segments of the group is expected to improve on the back of strong consumer spending and improvement in tourism activities.
'The directors are cautiously optimistic that the performance of the business operations of the group for the remaining quarter of FY2025 to be satisfactory,' it said. — Bernama
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