“The significantly lower revenue and pre-tax loss incurred in the current quarter under review were mainly due to the current sentiment in relation to the conflict in the Middle East,” Berjaya Food said in the report published Tuesday.
Berjaya Food, which operates the Starbucks coffee chain in Malaysia, posted a loss in the fourth quarter as consumer sentiment on the Middle East conflict hurt sales.
The company, part of conglomerate Berjaya Corporation, reported a net loss of 38.2 million ringgit ($11.42 million) for the three months that ended in June, a reversal from a profit of 17.28 million ringgit a year ago, it said in a financial report. Sales fell by more than half.
