Berjaya Assets trims 2Q net loss as revenue grows

• For the first half of FY2023, BAssets reduced its net loss to RM6.09 million from RM19.3 million in the previous corresponding period. 

KUALA LUMPUR (Feb 20): Berjaya Assets Bhd (BAssets) trimmed its net loss to RM1.87 million for the second quarter ended Dec 31, 2022 (2QFY2023), from RM1.97 million a year ealier, on the back of a higher revenue, which was however offset by higher finance costs.

Quarterly revenue rose 24% to RM58.31 million, from RM47 million in 2QFY2022, on higher number of draws in the gaming segment, higher rental income from the property investment segment, as well as an increase in the number of sales of theme park tickets reported by the group’s hotel and recreation business.

For the first half of FY2023, BAssets reduced its net loss to RM6.09 million from RM19.3 million in the previous corresponding period, as revenue jumped 59.83% to RM111.98 million from RM70.06 million.

“While the directors are cautiously optimistic of the recovery of the domestic economy, the operating results of the group for the remaining quarters of the financial year ending June 30, 2023 is expected to be satisfactory,” BAssets said in a bourse filing.