KUALA LUMPUR: Berjaya Food Bhd (BFood) reported a net loss of RM29.76 million in the third quarter (Q3) ended March 31, 2024 from a net profit of RM15.94 a year ago.
The company's revenue almost halved to RM138.65 million in the quarter under review with no let up in the ongoing boycott due to the conflict in the Middle East.
"The significantly lower revenue and pre-tax loss incurred in the current quarter under review were primarily attributed to the current sentiment in relation to the conflict in the Middle East," it said in a statement.
For the nine month period ended March 31, 2024, BFood registered a net profit of RM53.31 million from a net profit of RM86.13 million last year.
It reported a revenue of RM599.74 million and a pre-tax loss of RM44.65 million in contrast to the revenue of RM844.22 million.
The drop in revenue and pre-tax loss was primarily attributed to the above mentioned reason and one-off loss arising from the disposal of the group's entity equity interest in Jollibean Foods Pte Ltd. "Excluding the exceptional investment related expenses, the pre-tax loss would have been RM34.15 million in the current period under review," it said.
The board does not recommend any dividend for the current quarter under review.
"The directors are of the view that the operating performance of the company's businesses will gradually improve over the remaining quarter of the financial year ending June 30, 2024," it added. Ends