Company’s Winning Formula Continues to Deliver Strong Performance
 
KUALA LUMPUR, May 19 (Bernama) --  PETRONAS Dagangan Berhad (PDB) registered profit before tax of RM335.6 million for the first quarter of the year, an improvement of 14% from the first quarter of 2016 and is comparable to the fourth quarter of 2016. This was contributed by improved margins across LPG, retail and commercial sectors.
 
PDB’s Managing Director and Chief Executive Officer Dato’ Mohd Ibrahimnuddin Mohd Yunus said, “We are pleased with our strong performance for the first quarter, bolstered by our Winning Formula which anchored on sound strategies and focused on offering superior products and services to our customers.”
 
Revenue for the quarter ended 31 March 2017 was at RM6,686.3 million, an increase of 36% as compared to same period last year mainly contributed by increase in average selling prices by 43% and partially negated by lower volume in line with the industry. As a result, group earnings per share for the quarter increased to 25.5 sen, as compared to 22.1 sen during the first quarter of 2016.
 
Retail business recorded a 17% increase in gross profit compared to the same quarter last year mainly contributed by higher margins for MOGAS and Diesel as well as higher sales of RON 97 supported by intensified marketing initiatives.
 
Commercial and LPG businesses continued on an upward trend, registering 8% and 41% increase in gross profit respectively. Amidst a highly competitive market, Lubricant business recorded a decrease in gross profit by 9%.
 
In view of the strong results, PDB has declared a dividend of 14 sen per ordinary share for the first quarter ended 31 March 2017.
 
Dato’ Ibrahimnuddin Yunus further said, “We cannot maintain business-as-usual in a challenging market environment and as such, we continuously invest in technology to improve operational and cost efficiencies as well as to extend our reach to a wider customer base.”
 
PDB continues to deliver value to customers at its stations by offering high quality fuel and convenience under one roof. In this quarter alone, PDB forged new partnerships with CIMB to promote cashless payments, as well as with Grab Malaysia to provide Grab drivers with greater fuel savings, product promotions and special reward points. PDB also introduced the Morning@Mesra promotion for commuters to grab quick and affordable breakfasts while fuelling up.
 
“We aim to continue on this momentum for the year ahead to register stronger results. We will continue to focus on delivering unique and rewarding customer experience, strengthening our existing partnerships and forging new ones as well as leveraging on digital innovation,” Dato’ Ibrahimnuddin Yunus concluded.

ABOUT PETRONAS DAGANGAN BERHAD
 
PETRONAS Dagangan Berhad is the principal domestic marketing arm of Petroliam Nasional Berhad (PETRONAS), the national oil company, which holds 69.86% of its equity. Incorporated in Malaysia under the Companies Act 1965 on 5 August 1982 and listed on the Main Board of Bursa Malaysia on 8 March 1994, PDB has since established itself as Malaysia’s leading retailer and marketer of downstream oil and gas products.
 
The Company markets a wide range of high quality petroleum products including motor gasoline, aviation fuel, kerosene, diesel, fuel oil, bunker fuel, lubricants, liquefied petroleum gas (LPG) and bitumen in Malaysia.

SOURCE : Petronas 

FOR MORE INFORMATION, PLEASE CONTACT: 
Name : Ms Sandyah Rihan
Tel : 03 – 2331 5346
Fax : 03 – 2331 6882
Email : sandyah.rihan@petronas.com.my
 
Name : Esha Lim Hwee Nee, Ms
Tel : 012-4120 117
Email  : eshalim.hweenee@petronas.com.my

--BERNAMA