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Berjaya Food fiscal Q4 profit falls 18.6% YOY

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Berjaya Food fiscal Q4 profit falls 18.6% YOY

Berjaya Food Bhd. said its normalized net income for the fiscal fourth quarter ended April 30 amounted to 2 Malaysian sen per share, compared with the S&P Capital IQ consensus estimate of 2 sen per share.

EPS decreased 34.0% year over year from 3 sen.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 6.5 million ringgits, a decline of 18.6% from 8.0 million ringgits in the year-earlier period.

The normalized profit margin dropped to 4.3% from 5.8% in the year-earlier period.

Total revenue grew 8.7% year over year to 151.4 million ringgits from 139.3 million ringgits, and total operating expenses rose 5.9% from the prior-year period to 146.6 million ringgits from 138.4 million ringgits.

Reported net income came to a loss of 3.3 million ringgits, or a loss of 1 sen per share, compared to income of 1.6 million ringgits, or 1 sen per share, in the prior-year period.

For the year, the company's normalized net income totaled 6 sen per share, compared with the S&P Capital IQ consensus normalized EPS estimate of 6 sen.

EPS declined 13.4% from 7 sen in the prior year.

Normalized net income was 24.3 million ringgits, a decrease of 13.2% from 28.0 million ringgits in the prior year.

Full-year total revenue increased 9.2% on an annual basis to 605.4 million ringgits from 554.4 million ringgits, and total operating expenses rose 9.9% on an annual basis to 566.5 million ringgits from 515.4 million ringgits.

The company said reported net income decreased 46.3% year over year to 11.4 million ringgits, or 3 sen per share, in the full year, from 21.3 million ringgits, or 6 sen per share.

As of Aug. 21, US$1 was equivalent to 4.29 ringgits.