KUALA LUMPUR (Nov 14): Berjaya Food Bhd (KL:BJFOOD) on Thursday posted its fourth consecutive quarter in the red as the anti-Israel boycott movement continued to affect the group, which operates the Starbucks coffee chain in Malaysia.

The group posted a net loss of RM33.68 million for its first quarter ended Sept 30, 2024 (1QFY2025), versus a net profit of RM19.03 million a year earlier, which it blamed on "prolonged impact from the ongoing sentiment in relation to the Middle East conflict".

Its revenue for the quarter more than halved to RM124.19 million from RM278.53 million, its bourse filing showed. No dividend was declared for the quarter under review.

The group said while the overall macro environment still remains challenging, it had observed positive improvements in the implementation of its strategic initiatives and programmes, but did not elaborate .

“Looking forward, we remain cautiously optimistic that operational performance will gradually improve over the coming quarters. The directors are committed to strengthening the group's core business and investments,” it added.

Besides the Starbucks coffee chain in Malaysia and Brunei, the group also operates the Kenny Rogers Roasters (KRR) chain in Malaysia, as well as the Paris Baguette bakery cafe brand here and in the Philippines.

Shares in Berjaya Food fell three sen or 6.8% to close at 41 sen on Thursday, valuing the group at RM798.53 million. The stock has fallen by over 30% this year.