KUALA LUMPUR: Berjaya Food Bhd (BFood), the operator of Starbucks Malaysia, reported a net loss of RM33.7 million for the first quarter of the financial year 2025 (1QFY25), amid an ongoing boycott which has lasted more than a year.
The boycott is due to sentiment surrounding the Middle East conflict.
The losses are a contrast to the net profit of RM19.02 million recorded in the same period last year.
Revenue dropped 55.4 per cent to RM124.1 million from RM278.5 million in the corresponding quarter, attributed to the prolonged impact of ongoing sentiment surrounding the Middle East conflict.
This marks BFood's fourth consecutive quarter of losses.
The company also posted a pre-tax loss of RM31.82 million, compared to a pre-tax profit of RM28.32 million previously.
"The overall environment will remain challenging, however continued positive improvement is observed with the implementation of strategic initiatives and programs by the group."
"Looking forward, we remain cautiously optimistic that operational performance will gradually improve over the coming quarters," the company said.
BFood added that the directors are committed to strengthening the group's core business and investments."
"With these ongoing efforts, the board of directors is confident that the group will achieve further progress and stronger financial results," it said.