KUALA LUMPUR (May 30): Berjaya Corp Bhd (BCorp)’s net loss for the third quarter ended March 31, 2022 (3QFY22) narrowed to RM35.89 million from RM87.56 million in 3QFY21, amid better contributions from its services, retail and hospitality businesses, coupled with higher net investment-related income.

The latest results trimmed its quarterly loss per share to 0.62 sen from 1.52 sen previously, its bourse filing showed on Monday. The group did not declare any dividends.

Revenue was up 32.98% to RM2.42 billion from RM1.82 billion a year prior, driven mainly by its services and retail segments.

Topline from its services segment, BCorp noted, was boosted by higher contribution from its gaming operations, which was operated by STM Lottery Sdn Bhd (formerly known as Sports Toto Malaysia Sdn Bhd).

“The 70.3% increase in revenue from the gaming operations was mainly due to better sales from lotto games, which resulted from higher accumulated jackpot prizes, coupled with stronger sales attained during the festive period in the month of February 2022,” it said.

As for its retail business, BCorp said its non-food business saw higher revenue mainly because HR Owen Plc reported higher sales from both new and used car sectors upon the full resumption of its business operations for the quarter under review. "HR Owen’s operations in the previous year’s corresponding quarter was negatively impacted by the third national lockdown in the United Kingdom from Jan 5, 2021 to April 12, 2021," it noted.

Meanwhile, its food retail business recorded a significant increase in revenue, thanks to improved mobility upon the resumption of domestic tourism and further relaxation of Covid-19 standard operating procedures. “The higher revenue was mainly due to higher same-store-sales growth particularly from the Starbucks café outlets,” it added.

For the nine months ended March 31, BCorp returned to black with a net profit of RM5.81 million, compared with a net loss of RM196.22 million in the corresponding nine-month period a year prior, mainly attributed to the hospitality and retail segments, coupled with the share of better results of associates and joint ventures, as well as higher net investment-related income.

Cumulative revenue rose 2.77% to RM5.86 billion from RM5.7 billion, mainly on stronger contributions from its retail and hotel segments, partly offset by lower revenue reported by both the services and property segments.

On prospects, BCorp noted the global economy has started to recover as most countries in the world have transitioned into the endemic phase of the Covid-19 pandemic, which saw the full resumption of business activities and the re-opening of international borders.

However, it also viewed that the recent rise of global inflation rates caused by the reduction of commodities supplies and disruptions in supply chains, brought on by the ongoing Russia-Ukraine war and the Covid-19 lockdowns in China, have impacted the economic recovery rate.

“Taking into account the aforesaid and barring any unforeseen circumstances, the directors expect the performance of the business operations of the group for the final quarter of the financial year ending June 30, 2022 to be satisfactory, despite having to bear the rising operating costs going forward,” added BCorp.

BCorp’s share price ended 2.08% or half a sen lower at 23.5 sen on Monday, bringing the group a market capitalisation of RM1.38 billion.