KUCHING: Borneo Oil Bhd (Borneo Oil), the holding parent of local fast-food chain Sugar Bun Corporation Bhd (Sugar Bun), recorded a strong turnaround in its results for the third fiscal quarter ended October last year.
In a recent announcement to Bursa Malaysia, the group achieved total revenue of RM6.02 million for the period versus RM 5.068 million posted a year earlier.
On earnings, it gained significant improvement in losses-before-tax (LBT) for the period, from RM 0.89 million to RM0.13 million.
It cited better contributionfrom its fast food division Sugar Bun and the recovery of certain doubtful debts as reasons for improvements in its overall performance.
Additionally, the group’s other business divisions has managed to maintain their respective performance despite the continued economic slump, which affected most industries worldwide.
Going forward, Borneo Oil’s outlook remains optimistic, in which a much improved performance will be expected from its fastfood division in upcoming quarters, especially on its Sugar Bun franchising business.
Apart from fast food, thegroup is also involved in general trading, management and operations of properties, as well as in the oul and gas sector.