KUALA LUMPUR: Bermaz Auto Bhd
anticipates a positive performance for the remainder of its financial year ending April 30, 2024 despite expected headwinds to the automotive sector.
The group said the automotive sector is expected to continue to register growth albeit at a slower pace due to factors such as inflationary pressures, uncertainties in geopolitical conflicts and weaker global growth, which will have an adverse impact on the overall local economy.
"The launching of new and/or new facelift models of the group’s existing and new vehicle marques are still very much dependent on the market sentiments and economic conditions then," said Bermaz Auto in a statement.
In the third quarter ended Jan 31, 2024, the group registered a net profit of RM70.5mil, which compares to RM87.29mil in the same quarter in the previous year, representing a decline in earnings per share to 6.04 sen from 7.5 sen previously.
The lower profitability was owing to the group's lower revenue, which dropped to RM896.51mil from RM975.97mil in the previous corresponding quarter, amid lower sales volume and a change in the sales mix of the domestic operations of the Mazda marque.
The board of directors declared a third interim dividend of 4.25 sen per share, with entitlement date on April 18, 2024, and payable on May 3, 2024.
For the nine months period to Jan 31, 2024, the group's net profit was RM260.82mil against RM203.12mil in 9MFY23, while revenue was RM2.99bil, up from RM2.48bil in the previous corresponding period.
