KUALA LUMPUR (Dec 5): Berjaya Food Bhd’s net profit grew 21% year-on-year in its second quarter ended Oct 31, 2018 (2QFY19), to RM7.03 million from RM5.81 million, on higher same-store sales growth from its Starbucks cafes, and the opening of new outlets.

Earnings per share rose to 1.89 sen from 1.55 sen per share previously. Revenue rose 4% y-o-y to RM166.58 million from RM160.78 million, its stock exchange filing to announce its quarterly performance showed.

The company recommended a second interim dividend of 1 sen per share for FY19, to be paid on Jan 25, 2019.

In a statement, Berjaya Food said the group’s profit from operations improved 12% y-o-y, mainly thanks to higher profit contributions from its Starbucks operations.

“In addition, the group had ceased consolidation of the losses from its Kenny Rogers Roasters operations in Indonesia following its disposal in the previous financial year," it added.

With the stronger 2QFY19, the group's first half net profit rose 19% y-o-y to RM13.27 million from RM11.15 million previously, while revenue grew 4% to RM327.96 million from RM315.17 million.

Looking ahead, Berjaya Food's board said it believes that renewed consumer confidence, coupled with its expansion plans, will fuel the group’s business growth, which should augur well for its operations going forward.

Berjaya Food's shares closed down 2 sen or 1.48% to RM1.33 today, for a market capitalization of RM482.67 million.