PETALING JAYA: Berjaya Corp Bhd’s (BCorp) second quarter ended Dec 31, 2021 saw a year-on-year (y-o-y) recovery in bottomline as it returned to the black with a net profit of RM101mil.

       Revenues for the quarter rose slightly to RM2.06bil from RM1.94bil in the same quarter a year ago. Basic earnings per share for the quarter was at 1.77 sen compared to net loss of 0.85 recorded in the same quarter a year ago.

       “This quarter’s results are a combination of several factors. The easing of Covid-19 restrictions was critical and presented a semblance of normalcy for our businesses especially in the retail and hospitality segment. However, these positive results are also a reflection of the various business improvement initiatives that were undertaken by the operating companies,” said its group chief executive officer Jalil Rasheed in a statement.

       The group said its increased revenue for the quarter was mainly driven by the retail and hospitality segments.

       “In the non-food retail segment, H.R. Owen PLC which operates in the United Kingdom, saw higher sales which were mainly generated from the used car sector, due to a continued supply shortage. In the food retail segment, revenues also increased due to the easing of restrictions on travel and the gradual opening of public spaces,” BCorp said.

       “Coupled with Christmas and year-end celebrations, this segment saw a boost, especially from Starbucks Coffee outlets that showed higher same-store-sales growth,” it added.

       BCorp said its hospitality segment was buoyed by the gradual easing of Covid-19 restrictions.

       It said this segment saw a small revival after several depressed quarters.

       “The segment showed higher revenue through both increased occupancy rates as well as higher average room rates. This applied to both the local and international properties in the group,” it said.

       Meanwhile, BCorp said its services sector saw a decline due to STM Lottery Sdn Bhd (formerly known as Sports Toto Malaysia Sdn Bhd).

       “The decrease was mainly due to softer recovery after it resumed business operations on Sept 14, 2021 following the nationwide lockdown that was implemented from Jun 1 to Sept 13, 2021,” it said.“While there remain uncertainties, I am fairly confident that BCorp is now much better prepared to weather the future through the various initiatives that we have embarked on. Barring any unforeseen circumstances, we are expecting continued positive results and growth for BCorp in the second half of financial year 2022,” Jalil said.