PETRONAS DAGANGAN BERHAD POSTS LOWER PBT IN THIRD QUARTER

PETRONAS Dagangan Berhad (PDB) registered a revenue of RM 7,819.3 million for the quarter ended 30 September 2018, an increase of 14% as compared to the corresponding quarter last year due to higher market price. Profit Before Tax (PBT) decreased by 11% to RM391.5 million mainly due to lower sales volume and higher operating expenses.

Overall for the 9-month period ended 30 September 2018, PDB recorded 4% growth in PBT as compared to the corresponding period last year.

PDB’s Managing Director and Chief Executive Officer, Dato’ Sri Syed Zainal Abidin said, “This year is all about reinventing our business, especially for retail, where investment is necessary to create a superior customer experience through innovative solutions and strategic partnerships that will help grow both our fuel and non-fuel businesses. The Company is also focusing on its digital transformation agenda to enhance operational efficiency to ensure business remains resilient and competitive.”

“Going into the next quarter, the Company is cautious that the continued volatility of oil price, coupled with Malaysia’s economic environment and consumer sentiment, will have an impact on the Group’s profitability. We will continue to focus on inventory management, supply and distribution efficiency as well as operating expenditure optimisation to sustain the Company’s profitability,” he concluded

Retail business recorded an increase of 2.3% in sales volume and 5.5% in gross profit, a testament to its impactful marketing campaigns and enhanced customer experience, Lubricant business registered a 4.4% increase in sales volume and boosted its gross profit by 8.4%.

Commercial business recorded a decline in both sales volume and gross profit by 8.5% and 6% respectively due to lower demand for diesel and Jet A-1. LPG business recorded marginal decline in its sales volume by 1.8% while its overall gross profit decreased by 30.7% due to higher product cost.

PDB declared a dividend of 16 sen per ordinary share for the third quarter ended 30 September 2018.

 

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