Berjaya Food Bhd (BFood) reported a 96.21% fall in its net profit for its second quarter ended Oct 31, attributed to a remeasurement gain of RM158.60mil in the same quarter a year ago.
The Berjaya Corp subsidiary posted a net profit of RM6.2mil for the quarter compared with RM163.6mil a year ago.
The group said this was due to a recognition of gain arising from the remeasurement of its earlier 50% equity interest in Berjaya Starbucks Coffee Co Sdn Bhd (BStarbucks) prior to it buying the other 50% in the coffee chain operator in September 2014 for US$88mil (RM374mil).
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The Berjaya Corp subsidiary posted a net profit of RM6.2mil for the quarter compared with RM163.6mil a year ago.
The group said this was due to a recognition of gain arising from the remeasurement of its earlier 50% equity interest in Berjaya Starbucks Coffee Co Sdn Bhd (BStarbucks) prior to it buying the other 50% in the coffee chain operator in September 2014 for US$88mil (RM374mil).
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