KUALA LUMPUR, May 21 (Bernama) -- PETRONAS Dagangan Berhad today announced its financial results for the first quarter of 2024, achieving a revenue increase of RM747.6 million compared to the corresponding quarter.

 
This growth was driven by a combination of factors, including a notable rise in sales volume across all business segments, the successful execution of targeted promotional campaigns and a strategic focus on high-growth areas like the commercial fleet and transportation sectors. Additionally, a resurgence in passenger traffic, particularly bolstered by the recovering tourism sector, further contributed to this positive revenue trend. PETRONAS Dagangan registered a pre- tax profit of RM326.8 million for the quarter, primarily driven by strong volume and healthy margin.
 
PETRONAS Dagangan Managing Director and Chief Executive Officer Azrul Osman Rani said, “With the convergence of increased tourism and strategic events like the PETRONAS Malaysia Open, we were intensely focused on ensuring effective commercial execution and maintaining operational excellence across all touchpoints of our core and convenience businesses. This quarter, we continued to leverage our extensive ecosystem to drive our promotional strategies and sustain our growth trajectory.”
 
As part of its commitment to a holistic approach, PETRONAS Dagangan also continued its efforts in sustainability this quarter by expanding its low-carbon mobility solutions and promoting responsible environmental practices. A key highlight of the quarter was the expansion of the used cooking oil (UCO) collection programme during Ramadan, which underscores PETRONAS Dagangan’s commitment to innovative environmental initiatives.

Looking ahead, Malaysia’s Gross Domestic Product (GDP) growth for 2024 is expected to remain steady, supported by ongoing expansions in key economic sectors such as construction, services, manufacturing and tourism. Meanwhile, the oil market is expected to remain dynamic, with potential fluctuations influenced by geopolitical tensions and global economic trends. PETRONAS Dagangan will continue to drive value creation within its core business areas and foster growth in its Retail and Commercial segments. The Company also anticipates growth in its Convenience segment during the festive season, driven by increased activity at Café Mesra and Kedai Mesra.

“As we look to the future, we remain cognisant of the broader economic shifts and the ongoing challenges within our industry. Yet, we are more committed than ever to making our customers’ lives simpler and better, by enhancing their experiences through every interaction with our products and services,” Azrul added.

“Our forward-looking strategies are designed to harness the potential of our core sectors while continuously adapting to the changing needs of our customers. This approach ensures we stay at the forefront of the industry, offering solutions that are not only practical but also more sustainable.”
 

PETRONAS Dagangan has declared an interim dividend of 18 sen per ordinary share for the quarter ended 31 March 2024.
 
ABOUT PETRONAS DAGANGAN BERHAD
 
PETRONAS Dagangan Berhad is the principal domestic marketing arm of Petroliam Nasional Berhad (PETRONAS), which holds 63.94% 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 natural gas (LNG) liquefied petroleum gas (LPG) and bitumen in Malaysia.

As part of its strategy to grow its non-fuel offerings, the Company has incorporated Mesra Retail & Café Sdn Bhd in 2021, which focuses on food and beverage (F&B) business.
 
Since 2015, PDB has been certified as a constituent company member of FTSE4Good Index Series – a testament to the Company’s commitment to strong environmental, social and governance practices measured against globally recognised standards.

Source: PETRONAS Dagangan Berhad

FOR MORE INFORMATION, PLEASE CONTACT:
Name: Myra Liyana Razali
Tel: 03 – 2392 7252 | 012 – 689 0188
Email: myraliyana.razali@petronas.com.my 

--BERNAMA