KUALA LUMPUR: DRB-Hicom Bhd
‘s net loss widened to RM25.74 million within the first quarter ended March 31, 2022 (Q1 FY2022) from RM16.96 million in the identical interval final 12 months, consistent with weaker income.
Its income fell 12.6 per cent to RM3.07 billion from RM3.51 billion beforehand, dragged down by decrease income from the automotive, postal, logistics and catering providers and properties sectors, the corporate mentioned in a submitting with Bursa Malaysia in the present day.
Despite that, the board has advisable a closing dividend of two.0 sen per share amounting to RM38.66 million for FY2021, topic to shareholders’ approval at its June 22, 2022 annual common assembly.
Explaining the 12 months’s efficiency, the corporate advised the inventory change that its automotive sector recorded decrease income as a result of PROTON’s inventory scarcity arising from disruption in provide by the flood-affected native distributors and chip shortages, whereas its postal phase’s weaker income was as a result of a decline within the courier enterprise as customers return to traditional buying.
Freight forwarding, from its logistics providers enterprise, additionally fell as a result of decreased buyer shipments and income from its properties sector noticed decrease income recognised from building tasks, the submitting mentioned.
On prospects, the corporate mentioned its enterprise operations are anticipated to recuperate, significantly with the continued robust demand, new merchandise, new markets and counter measures towards provide chain points.
“As the worldwide economic system reopens, DRB-Hicom’s companies are steadily gaining momentum. For instance, key contracts for plane meeting works beneath the aerospace phase had been secured for the interval till 2034.
“With the opening of all enterprise sectors, the group anticipates a better efficiency for the monetary 12 months ending Dec 31, 2022 in comparison with the earlier monetary 12 months,” it mentioned.
DRB-Hicom mentioned the postal phase expects improved efficiency with the on-going turnaround and transformation initiatives aimed toward enhancing service ranges and price efficiencies. – Bernama
