KUALA LUMPUR: Berjaya Food Bhd's (BFood) net profit jumped 198.4 per cent to RM34.70 million in the first quarter (Q1) ended September 30,2022 from RM11.63 million a year ago.
The food and beverages (F&B) chain operator said revenue for the quarter rose 51 per cent to RM283.05 million on same-store-sales growth in Starbucks outlets as well as the full-quarter effect of new Starbucks outlets opened during the previous financial year.
The group noted that the improved performance was also owing to the turnaround of its Kenny Rogers Roasters outlets.
BFood declared a first interim dividend of 0.5 sen per share.
Chief executive officer Datuk Sydney Quays expects Starbucks to maintain its revenue growth momentum.
Quays said the company also anticipated its operating results to remain satisfactory for the remaining quarter of the financial year.
"Despite inflationary pressures, the company will continue to work on managing its operational costs effectively and sustaining its growth momentum for the rest of the financial year," he said.