KUALA LUMPUR: Bermaz Auto Bhd
(BAuto), which posted a 17.7% leap in net profit to RM78.7mil within the fourth quarter ended April 30 (4Q), has declared a 4.5 sen dividend.
The board has accepted and declared a fourth interim dividend of two.00 sen single-tier dividend per share and a particular dividend of two.50 sen single-tier dividend per share in respect of the monetary 12 months ended April 30 April, 2022 (FY22) to be payable on Aug 4, 2022.
The entitlement date has been fastened on July 15.
“This will bring the total dividend declared for the FY22 to 8.75 sen single-tier dividend per share,” it mentioned in an announcement.
Its income in 4Q surged 40% to RM897.4mil from RM641.2mil in the identical quarter final 12 months.
The increased income is especially because of the increased total gross sales quantity from the group’s Mazda, Peugeot and Kia operations as customers rushed to register autos earlier than the expiration of the gross sales tax exemption incentives in June 2022.
For FY22, Bauto posted a net profit of RM155.72mil, up 16.3% from RM133.84mil whereas income grew 1.6% to RM2.32bil towards RM2.28bil.
BAuto mentioned the present ongoing scarcity of chips and parts and cargo delays and the continued lockdowns in China because of the Covid-19 pandemic will proceed to pose challenges for the automotive sector and can impression the restoration of auto gross sales.
“Although the current sales tax exemption incentives had kept vehicle prices relatively low in a period of rising input costs, it may however not be sufficient to boost sales as most automotive players are facing difficulties in fulfilling backorders due to the ongoing shortage of chips and components.
“Premised on the foregoing, the Board takes cognizance of the prevailing economic conditions and remains cautious on the performance of the group and the automotive sector for FY23,” it added.
