Berjaya Food has reported its fifth consecutive quarterly loss, attributing the downturn to the underperformance of its Starbucks franchises in Malaysia.

The company links the decline to boycotts of US fast food brands following America’s support of Israel’s offensive in Gaza.

For the six months ending December last year, Berjaya Food recorded a net loss of US$16.75 million (RM70.3 million).

Revenue for the period was $57.9 million (RM247.30 million), with a pre-tax loss of $15.1 million (RM67.09 million), compared to the previous year’s revenue of $104.3  (RM461.09 million) and a pre-tax loss of $2.6 million (RM11.49 million).

Berjaya Food cited several factors affecting its financial performance. This includes festive seasons, tourism trends, raw material costs, staff expenses, and changing consumer perceptions.

Despite the challenges, Berjaya Food said it remains optimistic. 

“While the Starbucks brand faces challenges, the group remains committed to growth and diversification by expanding its brand portfolio and leveraging opportunities locally and internationally,” said the company.  

In addition to operating Starbucks in Malaysia and Brunei, the group operates Kenny Rogers Roasters in Malaysia and Paris Baguette stores in the Philippines.