Berjaya Corp posts higher revenue of RM2.56 billion for Q4’23

Berjaya Corporation Bhd posted a higher revenue of RM2.56 billion for its fourth quarter ended June 30, 2023 compared with RM2.35 billion in the corresponding quarter of the previous financial year.

The group registered a lower pre-tax loss of RM8.7 million in the current quarter compared with RM16.72 million in the corresponding quarter of the previous year, due to lower net investment-related expenses incurred as well as share of better results from associated companies. The non-food retail segment’s higher revenue was bolstered by stronger sales registered by HR Owen in both new and used cars sectors coupled with favourable foreign exchange effect during the financial year under review. The food retail segment also reported a higher revenue from aggressive marketing campaigns and effective promotion strategies, as well as the additional Starbucks cafes operating in Malaysia during the financial year.

This was mainly due to higher operational costs brought on by inflationary pressures and the unfavourable exchange rate to the US dollar. The improved performance reported by the property, hospitality and services segments was in line with the higher revenue achieved.

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