30-05-2025
- Business
- New Straits Times
BCorp logs RM92.34mil loss, lower RM2.54bil revenue in Q3
KUALA LUMPUR: Berjaya Corp Bhd (BCorp) posted a net loss of RM92.34 million in the third quarter (Q3) ended March 31 2025 from a net profit of RM689.92 million a year ago.
This was on the back of a revenue of RM2.54 billion, down from RM2.78 billion in the corresponding quarter of 2024.
For nine months, BCorp logged RM348.87 million net loss from a net profit of RM580.23 million previously. Group revenue was lower at RM6.97 billion from RM7.58 billion a year go.
No dividend was declared for the quarter.
The group said its retail (non-food) business reported higher revenue in Q3, mainly driven by the strong performance of H.R. Owen Plc (HR Owen). This was attributed to the higher sales volume in both the new and used car sectors.
Sales from the new marque, Lotus, which is now represented by HR Owen, contributed to the revenue growth, and the launches of certain new models further supported the improved performance in the current quarter.
However, when translated into ringgit, the group's reporting currency, revenue growth was dampened by the unfavourable impact of foreign exchange effect.
The non-food retail business segment reported a higher pre-tax profit, primarily attributable to HR Owen's improved performance, in line with the increased revenue achieved during the current quarter under review.
HR Owen's positive results offset the lower results from Cosway's operations, which were impacted by the closure of non-performing stores in certain countries.
Its retail (food) business reported a lower revenue 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.
A higher pre-tax loss was reported by the business segment in the current quarter, due to the weaker performance of Kenny Rogers Roasters operations and additional pre-operating costs incurred for the group's new overseas operations.
BCorp's property segment reported a decline in revenue for the current quarter, due to the completion of The Tropika, Bukit Jalil project in the final quarter of the previous financial year.
However, this was mitigated by higher sales of residential units from a local project in the current quarter under review.
Additionally, the corresponding quarter of the previous year included sales from an overseas residential project.
BCorp expects the performance of its domestic business segments to improve on the back of strong consumer spending and improvement in tourism-related activities.
As for the gaming business, it is expected to continue its growth trajectory, in line with the ongoing popularity of its Lotto and Digit games to achieve commendable results.
"Taking account of the aforesaid and barring any unforeseen circumstances, the directors are cautiously optimistic that the group's business operations will deliver a satisfactory performance for the remaining quarter of the financial year ending June 30 2025," it said.
