DRB-Hicom says the introduction new models across all marques will be a boost for its vehicle business.
PETALING JAYA: DRB-Hicom Bhd
expects the introduction of new models across all marques within the group to boost the automotive sector and entice buying interest among consumers.
In a filing with Bursa Malaysia yesterday, the company said this would also provide a corresponding boost to the manufacturing and engineering companies within the group.
For its fourth quarter ended Dec 31, 2022, DRB-Hicom reported a net loss of RM100.06mil, compared with a net profit of RM117.47mil in the previous corresponding period.
Revenue in the fourth quarter rose to RM4.35bil compared with RM4.12bil in the previous corresponding period.
It reported a loss per share of 5.18 sen, versus an earnings per share of 6.08 sen a year earlier.
For the financial year ended Dec 31, 2022 (FY22), DRB-Hicom returned to the black with a net profit of RM187.71mil compared with a net loss of RM296.42mil a year earlier, while revenue rose to RM15.51bil from RM12.38bil previously.
In a statement, DRB-Hicom said three sectors led the sterling 25.3% revenue growth in FY2022, with automotive leading the growth with an increase of RM2.89bil.
“The rise in automotive demand driven by the government’s sales tax holiday boosted revenue for Proton and other marques under the DRB-Hicom umbrella, sending revenue rising more than 35.2%.
“In addition to Proton and other automotive distribution companies, the increased demand also trickled down to manufacturing and engineering companies in the group, as the national total industry volume set a new record of 720,658 units in FY22,” it said.
