Bermaz Auto Berhad reported a higher Group revenue and pre-tax profit of RM783 million and RM91.6 million in the current quarter under review as compared to the preceding year corresponding quarter which reported a Group revenue and pre-tax profit of RM483.8 million and RM33.5 million respectively.
Higher group revenue of RM299.1 million or 61.8% was achieved mainly due to the continued fulfilment of the substantial back orders received prior to the expiry of the sales tax exemption incentive on 30 June 2022 for all three marques Mazda, Peugeot and Kia.
In line with the increase in revenue, the Group’s pre-tax profit had also improved by RM58 million or 173.0% compared to the preceding year’s corresponding quarter. Gross margin for its Mazda operations had improved due to the change in the composition of sales mix and the appreciation of the MYR against JPY. Likewise, the contribution from its associated company, Mazda Malaysia Sdn Bhd (“MMSB”), had improved in line with the higher sales volume in the domestic market. During the quarter under review, the Group had also registered higher contributions from its Peugeot and Kia operations.
For The 6-month Period Ended 31 October 2022, the group reported higher revenue and pre-tax profit of RM1.5 billion and RM166.2 million respectively as compared to revenue and pre-tax profit of RM804.6 million and RM48.0 million. Higher group revenue of RM695.2 million or 86.4% was achieved mainly due to similar reasons as explained in the current quarter results above namely, the continued fulfilment of the substantial back orders received prior to 30 June 2022.
Similarly, the Group’s pre-tax profit had also improved by RM118.1 million or 246.0% compared to the preceding year corresponding period largely due to increase in the overall sales volume, improvement in gross margin for its Mazda operations arising from variation in sales mix, the appreciation of the MYR against JPY and higher contributions from its Peugeot and Kia operations and a higher share of results from MMSB.
In response to the better performance, Bermaz Board has approved and declared a second interim dividend of 3.50 sen single-tier dividend per share in respect of financial year ending 30 April 2023. This will bring the total dividend declared for the financial period ended 31 October 2022 to 6.50 sen single-tier dividend per share
