KUALA LUMPUR, Nov 25 (Bernama) -- For the quarter ended 30 September 2019, PETRONAS Dagangan Berhad (PDB) boosted its overall sales volume by 7% against the corresponding quarter last year.
 
Revenue for the quarter stood at RM7807.2 million. Overall, PDB recorded a Profit Before Tax (PBT) of RM317.7 million, a decrease of 19% as compared to the corresponding quarter last year. The decrease is due to higher product cost and operating expenditure during the quarter, which is offset by higher other income.
 
PDB's Managing Director and Chief Executive Officer, Dato' Sri Syed Zainal Abidin Syed Mohd Tahir said, “We are pleased to have sustained our volume growth in this challenging environment, which helped to cushion the impact of the continued oil price volatility. In addition to the effectiveness of our targeted marketing strategies, we also owe our growth to our customers who believe in the quality of our products especially our new fuel PETRONAS Primax 95 with Pro-Drive.”
 
For the quarter ended 30 September 2019, Retail business’ sales volume grew by 6% attributable to improved stations’ productivity, more operational stations and higher volume registered for the new PETRONAS Primax 95 with Pro-Drive. Gross profit for Retail business decreased by 2% mainly due to declining MOPS price trend and higher product costs during the quarter.
 
For the same period, Commercial business registered a 9% increase in sales volume, mainly attributable to higher demand for Jet A1 and Diesel, while its gross profit grew by 6%.
 
Both LPG business’ sales volume and gross profit grew marginally by 0.3%. Lubricant business’ sales volume and gross profit decreased by 16% and 13% respectively following overall lower demand from the industry amidst a competitive market landscape.
 
Dato’ Sri Syed Zainal added, “Moving forward, we will continue to push for volume growth by leveraging our high quality products, extensive supply and distribution chain, as well as vast network of stations and partners. Efforts are also in place to grow our non-fuel segment, through widening the differentiated offerings at our stations and Kedai Mesra.”
 
“At the same time, we will ramp up our new ventures, such as Setel, in creating new revenue streams that ensure sustainable growth for the Company. All these initiatives will be driven by our passion to provide our customers a seamless and frictionless experience,” he added.
 
PDB has declared an interim dividend of 16 sen per ordinary share for the quarter ended 30 September 2019.
 
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 Dagangan Berhad
           
FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Ms Sandyah Rihan
Tel : 03 – 2331 5346
Fax : 03 – 2331 6882
Email: sandyah.rihan@petronas.com.my  
 
Name: Ms Esha Lim Hwee Nee
Tel: 012-4120 117
Email: eshalim.hweenee@petronas.com.my 

--BERNAMA