BAuto said the improved quarterly performance was mainly attributable to Mazda marque’s domestic operations.
PETALING JAYA: Bermaz Auto Bhd
(BAuto) expects the automotive sector to continue registering growth, albeit at a slower pace, underpinned by improvements in the supply chains and vehicle shipments.
In a filing with Bursa Malaysia, the company said inflationary pressures, uncertainties in geopolitical conflicts and weaker global growth would however continue to have an impact on the economy.
“The launching of new and/or new facelifts models of the group’s vehicle marques will be dependent on market sentiment and economic conditions.”
For the second quarter ended Oct 31, 2023, BAuto’s net profit rose to RM90.1mil from RM65.67mil in the previous corresponding period, while revenue in the second quarter grew to RM1bil from RM782.97mil a year earlier.
Basic earnings per share stood at 7.73 sen versus 5.65 sen previously.
BAuto said the improved performance during the quarter was mainly attributable to the Mazda marque’s domestic operations, especially from its CX-30 compeltely knocked down model, which continued to register higher sales since it was launched in March 2023.
“The increase was, however, partly set off by lower sales registered from its Peugeot marque operations during the quarter under review.
“In line with the increase in the group revenue, as well as improved contribution from the Mazda operations in the Philippines, the group’s pre-tax profit had also improved by RM31.2mil or 34.1% compared with the preceding year corresponding quarter.”For the six-month period ended Oct 31, 2023, BAuto’s net profit improved to RM190.32mil from RM115.83mil in the previous corresponding period, while revenue rose to RM2.1bil from RM1.5bil previously.
BAuto approved and declared a second interim single-tier dividend of five sen per share which will be payable on Jan 5, 2024. .
