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Bonia Corp Berhard posts Q2 FY20 revenue of RM128 mn

Mar '20
Pic: Bonia Corporation Berhard
Pic: Bonia Corporation Berhard
Bonia Corporation Berhard, an international luxury fashion retailer, has announced slight decrease in revenue to RM128 million (RM: Malaysian ringgit) in second quarter (Q2) FY20 ended on December 31, 2019 compared to RM132 million in same period prior year. Revenue for YoY (Year-over-Year) decreased from RM231 million in FY19 to RM222 million in FY20.
The management services, investment holding and investment properties segment recorded a minor decrease in revenue reportedly due to lower rental income for the current quarter.
Revenue from Malaysia in Q2 FY20 fell 13.6 per cent to RM73 million from RM84 million in same period prior year. Singapore brought positive results with 26.5 per cent jump in revenue to RM48 million in the quarter. Revenue from Indonesia declined 29.8 per cent to RM5 million while Vietnam reported a rise to RM1 million.
Gross profit in Q2 FY20 was RM67 million compared to RM69 million in same period prior year. Gross profit YoY was RM121 million compared to RM124 million in same period prior year. 
Profit from operation stood at RM 14million in the quarter compared to RM20 million in Q2 FY19. YoY profit from operation reduced to RM22 million compared to RM23 million same period prior year. This reduction was reportedly due to slight decrease in gross profit margin as well as lower revenue achieved for the quarter.
Company reported that their profit before tax in Q2 FY20 was RM13 million (Q2 FY19: RM20 million) and YoY was RM20 million. 
Total income in the quarter declined to RM 10 million (Q2 FY19: 12 million) and YoY remained flat at 14 million. 
Bonia Corporation in its future prospect reported that the outbreak of novel coronavirus (COVID-19) is expected to severely impact the already soft retail market and further weaken and subdue market sentiments as well as consumer spending. Since the outbreak of COVID-19, the group has taken swift actions and measures to reorganise and mobilise its resources including rescheduling its productions, purchases and expenditures as well as manpower planning its work force. In addition, certain inventories have been channeled to certain overseas markets that are not affected by the COVID-19, in particularly, Indonesia.

Fibre2Fashion News Desk (JL)

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