Petronas Dagang Bhd achieved a net profit of RM137.191 million for the fourth quarter ended Dec 31, 2021 from RM89.214 million for the same period last year.
The group’s revenue in the fourth quarter improved by 60.58% y-o-y to RM7.06bil compared with RM4.39bil in the previous corresponding quarter.
For the financial year ended Dec 31, 2021 (FY21), Petronas Dagangan’s net profit surged by almost 92% y-o-y to RM529.75mil from RM275.96mil a year earlier.
The Group performance bounced back in Q4 2021 from the lifting of inter-state travel ban on 11 October 2021 which positively impacted the demand during the quarter as compared to the corresponding quarter last year.
The reopening of more economic sectors increasing booster vaccination rate have geared the country towards a better recovery prospect. However, we remain cautious on the discovery of new variant Omicron case in Malaysia and shall monitor the impact to our business operations.
The current roll out of the National Recovery Plan has a continuous positive impact on the demand towards the end of 2021. The reopening of major economic sectors and increase in domestic travel has resulted to significant improvement in the Compa As we are gradually transitioning into the recovery stage, the world is once again combating the threat of the new variants such as Omicron, we foresee it may spill over into 2022.
However, given the given the continuous easing and the lifting of restrictions and the government’s stance that it won’t reinforce any movement control despite the spike in Covid cases including the rapid rollout of booster vaccination, It said that it is cautiously optimistic that the group’s current performance is sustainable
