However, this was mitigated by stronger performance in the services segment.

“Revenue declined 3.5% to RM2.46 billion in Q4 FY2024 from RM2.55 billion previously,” it said in a filing with Bursa Malaysia.

Taking into account the aforementioned and barring any unforeseen circumstances, BJCorp noted it is cautiously optimistic that the performance of its business operations for FY2025 will be satisfactory.

Nevertheless, the group said it will continue to monitor prevailing global and local political developments in the countries where it operates.

“The performance of the domestic business segments of the group is expected to improve on the back of strong consumer spending and improvement in tourism activities,” it noted.

For the financial year ended June 30 (FY2024), BJCorp returned to the black with a net profit of RM446.18 million, compared with a net loss of RM110.26 million a year ago.

The performance was supported by gains on the disposal of subsidiary companies totalling RM498.33 million and a gain on the remeasurement of retained equity interest in a former subsidiary company of about RM154.05 million.

However, profit from operations decreased due to the performance of the retail segment, mainly the food business, which saw the food retail business incur a pre-tax loss in the current year due to higher impairment on the non-current assets of the non-performing stores.

Revenue in FY2024 rose 4.5% to RM10.04 billion from RM9.61 billion previously, mainly due to higher contributions from all segments, except for the food retail segment.

At the close of trading, BJCorp’s share price was up 0.5 sen or 1.59% at 32 sen, giving the group a market capitalisation of RM1.91 billion.