0334 GMT - Berjaya Food's fiscal 4Q will likely remain in the red but is expected to show a narrower loss sequentially, say CIMB Securities analysts Lim Yue Jia and Walter Aw Lik Hsin in a note. A post-Ramadan sales recovery and a decline in consumer boycotts linked to the Israel-Palestine conflict will help Berjaya, which holds the Starbucks franchise in Malaysia, they say. The company has been affected by boycotts targeting companies perceived to be pro-Israel. The company is also closing underperforming outlets to stem losses, they add. The analysts widen Berjaya Food's FY2025-FY2027 loss forecasts by 15%-28% after its 3Q earnings miss and cut the target price to MYR0.28 from MYR0.32, while maintaining a reduce rating. Shares are unchanged at MYR0.31 (yingxian.wong@wsj.com)
(END) Dow Jones Newswires
May 12, 2025 23:34 ET (03:34 GMT)
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