KUALA LUMPUR - Berjaya Food Bhd (BFood) has slipped into the red with a net loss of RM91.51 million in the financial year ended June 30, 2024 (FY2024) compared with a net profit of RM103.40 million in FY2023.
Revenue fell to RM730.30 million from RM1.11 billion previously, it said in a filing with Bursa Malaysia.
The lower revenue was attributed to the current sentiment relating to the conflict in the Middle East, as well as a one-off loss arising from the disposal of the group's entire equity interest in Jollibean Foods Pte Ltd.
For the fourth quarter (4Q) of FY2024, the group incurred a net loss of RM38.20 million compared with a net profit of RM17.28 million in 4Q FY2023.
Revenue declined to RM130.56 million from RM271.74 million previously, also due to the sentiment over the Middle East conflict.
The company did not recommend any dividend for the current quarter under review.
On prospects, BFood said its directors recognised the challenging market conditions and external pressures affecting the group's business performance.
"Despite these difficulties, we remain cautiously optimistic and expect a gradual improvement in operational performance over the next financial year.
"While recovery may be slow due to ongoing current uncertainties, the directors believe that strategic adjustments and operational refinements will, in time, strengthen the group's position and lead to better financial results," it said. - BERNAMA