KUALA LUMPUR: Berjaya Corp Bhd’s net profit for the second quarter (2Q) ended Oct 31, 2012 fell 12.06% to RM20.19 million from RM22.96 million the previous corresponding quarter despite recording higher revenues during the period.
The group’s revenue for the quarter grew 4.1% to RM1.76 billion from RM1.69 billion previously due to higher contributions from its betting, property and hotel businesses.
“The group recorded improved revenue for the current quarter under review mainly from its toto betting operations, property investment and development; and the hotels and resorts segments,” said BCorp in a filing with Bursa Malaysia yesterday.
However, its retail distribution business saw lower revenue contributions during the quarter due to less favourable sales from China as a result of the economic slowdown. For its half-year ended Oct 31, net profit dipped 83.57% to RM48.22 million.
This article first appeared in The Edge Financial Daily, on Dec 28, 2012.