Berjaya Corp active, falls 2.86% on second straight quarterly loss

KUALA LUMPUR (Dec 29): Berjaya Corp Bhd (BCorp) fell 2.86% in active trade early today after the company posted its second straight quarterly loss yesterday, mainly due to provision for the impairment of a portion of the balance sales proceeds from the sale of the Great Mall of China project in China and the loss arising from the partial disposal of an associated company.

At 9.02am, BCorp fell 1 sen to 34 sen with 7.67 million shares done.

The group made a net loss of RM145.99 million in the second financial quarter ended Oct 31, 2017 (2QFY18) compared with a net profit of RM176.51 million a year ago. It posted a loss per share of 2.54 sen compared with earnings per share of 3.27 sen in 2QFY17.

Quarterly revenue fell 11.1% to RM2.19 billion in 2QFY18 from RM2.46 billion in 2QFY17 on lower contribution from the retail distribution and motor distribution businesses, as well as property investment and development business segment.

For the cumulative six months (6MFY18), it posted a net loss of RM189.38 million from a net profit of RM113.83 million a year ago. Revenue dropped 6.4% to RM4.38 billion from RM4.68 billion. — theedgemarkets.com

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