KUALA LUMPUR: Petronas Dagangan Bhd
’s (PetDag) net profit jumped 53.8% to RM137.19mil within the fourth quarter ended Dec 31, 2021 (4Q21) from RM89.21mil a 12 months in the past.
Revenue for the quarter surged 60.6% to RM7.05bil versus RM4.39bil a 12 months as there have been much less restrictions in the course of the present quarter.
Furthermore, it mentioned enchancment in Means of Platts Singapore (MOPS) costs pattern in the course of the interval has additional supported the advance in FY21.
PetDag’s board has declared an interim dividend of 26 sen per extraordinary share amounting to RM258.29mil for 4Q21. The dividend is payable on March 24, 2022.
For the complete monetary 12 months ended Dec 31, 2021, PetDag posted a net profit of RM529.75mil, up 92% from RM275.96mil whereas income rose 20.3% to RM22.5bil towards RM18.7bil a 12 months earlier.
Commenting on its outlook, PetDag is cautiously optimistic that the group’s present efficiency can be sustainable within the present 12 months.
“Dated Brent crude prices in most part of 2021 continued to increase compared to the previous quarter stimulated by economic recovery in major markets around the world and Opec+ decision to restrict its monthly production increase until early 2022.
“Going into the first quarter of 2022, the improved crude oil price is poised to further strengthen as demand outstrips supply,” it mentioned.
