Berjaya Corp Bhd recorded a loss of RM167.85 million for the quarter ended September 30, 2024.
This is a sharp decline compared to a profit of RM111.08 million in the same quarter last year, with revenue also down 13.29% to RM2.23 billion.
The company is confident that its domestic business will record profits due to stronger consumer spending and increased tourism.
The non-food retail business had lower sales and smaller profits due to too many cars in the market, which led to price competition.
HR Owen, its luxury car group, lost a lot of money due to foreign exchange and recorded low car sales.
The food retail segment, which is heavily dependent on Starbucks, reported lower revenue due to the boycott linked to the Middle East conflict.
The property business earned lower revenue due to the completion of its major project in Bukit Jalil and low sales of residential units abroad.
