BAuto 3Q net profit up 23%, declares 2.25 sen dividend


KUALA LUMPUR: Bermaz Auto Bhd’s (BAuto) net profit jumped 23.1% to RM40.71mil within the third quarter ended Jan 31, 2022 (3Q22) from RM33.01mil a yr in the past largely because of constructive contribution from the Kia operations.

Its income for the quarter stood at RM623.13mil, up 4.2% from RM597.9mil a yr prior.

BAuto stated larger income was primarily because of the change in gross sales combine from the group’s Mazda, Peugeot and Kia operations.

The group has additionally accounted for the expense referring to the group’s workers’ share scheme of RM400,000 within the present quarter underneath evaluation as in comparison with RM600,000 within the corresponding quarter of the previous yr.

The board has authorised and declared a 3rd interim dividend of 2.25 sen single-tier dividend per share in respect of the monetary yr ending April 30 (FY22) to be payable on May 5. The entitlement date has been fastened on April 15.

For the primary 9 months to Jan 31, BAuto posted a net profit of RM77.02mil, up 14.7% from RM67.11mil final yr. Revenue, nonetheless, dipped 13.3% to RM1.43bil towards RM1.45bil a yr in the past.

In a press release, BAuto stated the group’s present quarter monetary outcomes have been encouraging because of, inter-alia, the present gross sales tax exemptions on automobiles, the easing of the motion management orders and the re-opening of the varied financial sectors within the nation, which helped to enhance shopper confidence and elevated site visitors to showrooms to safe higher gross sales.

“The unpredictable outbreak of the new Omicron variant globally and/or domestically such as the recent surge in the number of Covid-19 infections will certainly have an impact on the overall recovery of the country’s economy.

“Hence, the group is cautious and expects the automotive sector to remain challenging in 2022,” it stated.

It added that the launches of latest and/or new facelift fashions of the group’s current marques – Mazda, Peugeot and Kia – are nonetheless very a lot dependent available on the market sentiments and financial situations then.

“Premised on the foregoing and that the current sales tax exemptions will continue till June 2022, the directors anticipate the performance of the group to remain encouraging for the final quarter of the financial year ending April 30,” BAuto stated.

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