KUALA LUMPUR: Berjaya Corp Bhd’s net profit for 2QFY12 ended Oct 31 fell 73.5% to RM22.96 million from RM86.54 million a year earlier. There were no contributions from the former 40%-owned Berjaya Sompo Insurance Bhd (BSompo), which it disposed of in the previous quarter.
The year-on-year decline was magnified by a higher base last year when numbers were boosted by a one-time gain on disposal and impairment writebacks, BCorp said in notes accompanying its accounts.
In addition, slower property sales nudged 2Q revenue 1.8% lower to RM1.69 billion from RM1.72 billion a year earlier. That also dampened higher revenue growth registered by its gaming business as well as consumer marketing and distribution businesses, BCorp said.
Nonetheless, the healthy numbers from its distribution and gaming businesses shored up numbers for 1HFY12 ended Oct 31, 2011. Net profit rose 38.5% to RM293.54 million from RM212 million a year earlier, while revenue inched 0.9% higher to RM3.49 billion from RM3.46 billion.
“Pre-tax profit increased by about 31.43% compared with the six-month period of the previous year. This increase was mainly due to the exceptional gain recognised arising from the disposal of 40% equity interest in BSompo,” it said.
Looking forward, BCorp said the operational performance for the remaining quarters “may be challenging” due to uncertainties in the global economy. BCorp fell 1.5 sen yesterday to close at 95.5 sen with 9.63 million shares done.
The year-on-year decline was magnified by a higher base last year when numbers were boosted by a one-time gain on disposal and impairment writebacks, BCorp said in notes accompanying its accounts.
In addition, slower property sales nudged 2Q revenue 1.8% lower to RM1.69 billion from RM1.72 billion a year earlier. That also dampened higher revenue growth registered by its gaming business as well as consumer marketing and distribution businesses, BCorp said.
Nonetheless, the healthy numbers from its distribution and gaming businesses shored up numbers for 1HFY12 ended Oct 31, 2011. Net profit rose 38.5% to RM293.54 million from RM212 million a year earlier, while revenue inched 0.9% higher to RM3.49 billion from RM3.46 billion.
“Pre-tax profit increased by about 31.43% compared with the six-month period of the previous year. This increase was mainly due to the exceptional gain recognised arising from the disposal of 40% equity interest in BSompo,” it said.
Looking forward, BCorp said the operational performance for the remaining quarters “may be challenging” due to uncertainties in the global economy. BCorp fell 1.5 sen yesterday to close at 95.5 sen with 9.63 million shares done.
