BERJAYA Philippines, Inc. booked a single-digit growth in the quarter ending January 2018, as the company recorded higher sales in its luxury automobiles segment.
In a regulatory filing posted on Wednesday, the listed firm reported a net income attributable to the parent of P194 million in the three months ending January, up by 3% from the P188 million it booked in the same period a year ago.
Revenues grew at a faster pace, picking up 26% in the same period to P6.87 billion against P5.45 billion in the three months ending January 2016.
This pushed Berjaya Philippines’ nine-month attributable profit to P624 million, jumping 76.8% year on year, while revenues gained 9.33% to P21.3 billion. Earnings per share in the company stood at six centavos.
“The increase was primarily due to a higher revenue contribution from H.R. Owen in the financial period under review,” the company said, adding that it also benefited from fluctuations of the British pound to the Philippine peso during the period.
H.R. Owen PLC is an England-based luxury vehicle dealership operator, which distributes luxury car brands such as Rolls-Royce, Bentley, Lamborghini, and Bugatti. Berjaya Philippines’ equity ownership in H.R. Owen is currently at 98.38%.
Berjaya Philippines also engages in the sale and distribution of vehicles under the Mazda brand through a 28.28% interest in Berjaya Auto Philippines, Inc. The company further has a 20% interest in Ssangyong Berjaya Motor Philippines, Inc., which also sells and distributes vehicles under the Ssangyong brand in the Philippines.
Berjaya Philippines is also in the hospitality business through Perdana Hotel Philippines, Inc., which operates Berjaya Makati Hotel in Makati City.
Also under its portfolio is Berjaya Pizza Philippines, Inc., which runs pizza chain Papa John’s Pizza.
Earlier this month, the company invested in restaurant operator Berjaya Food Berhad, which operates the Starbucks and Kenny Rogers Roasters brands in Malaysia.
Shares in Berjaya were last traded on March 13, with a closing price of P4.92 apiece. — Arra B. Francia
