Petaling Jaya: Berjaya Corporation BHD (BCORP) recorded a registered revenue of RM2.20 billion for the second quarter ended December 31, 2024, which was closely aligned with revenue of RM2.23 billion reported in the same quarter of the previous year.
The group made significant progress by reducing its pre-tax loss by RM39.02 million in the current quarter under a review compared to the previous year’s previous year’s previous-tax loss of RM119.30 million.
Under the review, the results of the group in the quarter contributed by the following business segments:
Retail (non-food) business reported high revenue, inspired by a strong performance of Junior Owen PLC. This growth was promoted with strong demand in the car sector used, resulting in high sales volume and an increase in average sales prices. In addition, sales were further enhanced by the introduction of Lotus Market, which was now represented by HR Owen in London. Higher revenue from HR Owen compensates for lower revenue from cousseway operations, as a result of the closure of non-performing shops in some countries.
Non-food retail business also reported a pre-tax profit for the current quarter, which is mainly inspired by the profitability of Cassway despite a decline in revenue. It was attributed to a strategic cost rationalization practice. Additionally, HR Owen reported better results with deficit decrease showing the revenue growth among the challenging economic environment in the United Kingdom.
The food retail business posted low revenue due to prolonged effects of sentiments going on around the Middle East conflict, which has contributed to high-east-tax loss in the current quarter.
The property segment reported the fall in revenue and pre-tax loss for the current quarter, mainly due to the completion of the Tropica Bookit Jalil Project in the last quarter of the last financial year. Nevertheless, this decline was reduced by an increase in sales of residence units from a local project in the current quarter under the review.
The hospitality section reported high revenue and pre-tax profit, mainly due to better overall occupants during the current quarter compared to the respective quarter of the previous year.
The services segment posted a high revenue in the current quarter, operated by STM Lottery SDN BHD -run gaming business, which is a low draw in the current quarter, with average sales and highly accumulated jackpot prizes in the Lotto Games.
The section reported a combination of high sales and low reward payments as well as a high-east-tax profit for a combination of the Singapore Institute of Advanced Medicine Holdings Limited (SIAM).
The six-month period ended on December 31, 2024, the group registered a revenue of RM4.43 billion and there was a pre-loss loss of RM140.60 million. It compares the previous year’s revenue of RM4.80 billion and pre-tax loss of RM22.0 million.
On the possibilities, BCORP stated that Malaysia’s economic growth is expected to be inspired by average inflation rate moderation despite strong domestic demand and ongoing geopolitical stress. The group will keep a close watch on the current global and local political development in countries where it operates. The group’s performance is expected to improve the performance of domestic trade sectors, supported by strong consumer expenses and improvement in tourism activities.
For the gaming business, it is expected to maintain the trajectory of its development, to achieve commendable results, in line with the ongoing popularity of his lotto and digit game.
Keeping these factors in mind and preventing any unexpected situations, directors remain careful that the performance of group operations for the remaining quarters of the financial year ending June 30, 2025 to be satisfactory to be satisfactory.
