KUALA LUMPUR, Feb 6 (Bernama) -- Berjaya Food Bhd recorded a revenue of RM184.12 million and a net profit of RM8.01 million in the second quarter ended Dec 31, 2019 (Q2).
In a filing with Bursa Malaysia today, the company said overall results for the remaining quarters of the financial year ending June 30, 2020 will be adversely impacted by the adoption of the MFRS 16, as almost all the group’s operating outlets are on lease.
"Nevertheless, the group expects to mitigate this adverse impact with Berjaya Starbucks Coffee Company Sdn Bhd maintaining its revenue growth momentum and the group expanding its income streams from new franchise business and existing business.
"It is anticipated that the operating results of the group will remain satisfactory in the remaining quarters," it said.
A year-on-year comparison was not available following the change in the company’s financial year end from April 30, 2019 to June 30, 2019.
TAGS : Berjaya Food, Bursa, MFRS 16, Starbucks Coffee