MBM Resources closed the current quarter with RM621.3 million in revenue, on par with the revenue earned during the
corresponding quarter in 2022. The Group PBT for the current quarter was higher at RM123.4 million with an increase of RM49.5 million or 66.9% coming mainly from higher associates’ performance by RM23 million and recognition of a gain of RM28.4 million from the disposal of a piece of vacant land in Bandar Sri Sendayan, Negeri Sembilan.
The share of results in joint venture posted a slight increase of RM0.3 million or 5.7% to close at RM5.4 million as the demand from the key market leaders remained high in the current quarter to fulfil outstanding bookings and replenish stocks. The share of associates’ results increased substantially by RM23.0 million or 49.3% as compared to the same quarter last year mainly due to higher production and sales volume.
The Motor Division closed the quarter with RM538.0 million in revenue, marginally higher than the corresponding quarter by RM9.0 million or 1.7%. PBT for the Division however retracted by RM2.2 million or 13.1% to close at RM14.6 million.
The higher revenue was contributed by continuous high demand for Perodua vehicles with a 12.7% increase in sales
compared to the corresponding quarter. The sales volume for Volvo and Volkswagen however, remained soft post-sales tax exemption since 31 March 2023.
PBT for the Division is marginally lower than the corresponding quarter due to the sales mix coming from lower Volvo and
Volkswagen sales volume as well as higher discounting required.
For the 9-month period ended 30th September 2023, the Group achieved RM1,716.6 million in revenue, RM59.9 million or
3.6% higher than the corresponding period in 2022. The increase was contributed mostly by higher vehicle sales revenue from selected brands carry by the Group, and higher aftersales revenue.
The Group’s PBT from Continuing Operations for the current period under review was RM278.8 million, RM27.4 million or
10.9% higher than the same period in 2022. Included in this current period’s PBT was a non-operating gain of RM28.4 million from the disposal of a piece of vacant land in Bandar Sri Sendayan, Negeri Sembilan. Similarly, the PBT for the same period in 2022 consisted of non-operating gains of RM30.4 million arising from the disposal of a piece of leasehold land with factory buildings located at Bandar Serendah, Selangor. Excluding these non-operating gains from both periods, the Group’s PBT from Continuing Operations for the current period in 2023 was RM250.5 million, RM29.5 million or 13.3% higher than the corresponding period’s PBT of RM221.0 million. The higher profit in current period arose mainly from the share of the
associates and joint venture’s results.
Share of the associates’ results of RM182.9 million was also higher by RM31.0 million or 20.4% against the corresponding period with Perodua registered vehicle sales of 233,227 units, 18.8% higher than the corresponding period of 196,354 units,
and contributing to 95.4% of our share of the associates’ profits.
