KUCHING, Aug 25: Petronas Dagangan Berhad (PDB) recorded a stronger profit for the quarter ended June 30, 2022 (Q2 FY2022) compared with the corresponding quarter last year, registering a profit before tax (PBT) of RM315.5 million compared with RM89.9 million in Q2 FY2021, due to improved economic environment.
According to a media release today, PDB said the higher sales volume and higher average selling prices resulted in an increase in revenue by 83 per cent to RM9.5 billion, in comparison with the corresponding quarter last year.
For the cumulative six-month period ended June 30, 2022, revenue increased by 66 per cent to RM17.1 billion compared with the corresponding period last year.
PBD added that this improved performance is mainly contributed by domestic and international travel, which picked up following Malaysia’s transition to Covid-19 endemic phase and the impact of festive seasons.
PDB’s Retail segment’s continued growth in gross profit was on the back of increased sales volume from the corresponding period last year.
Similarly, the Commercial segment recorded higher sales volume as demand spiked following the ease of travel restrictions and upsurge in international flights resulting from the re-opening of international borders.
For Q2 FY2022, PDB has declared an interim dividend of 11 sen per ordinary share.
“We are seeing a healthy growth in sales volume and consequently profit from most segments, attributed to market improvements.
“PDB is on track to maintain its growth recovery on the back of positive economic developments, but we will remain cautious of the ongoing volatility of crude oil prices,” PDB managing director and chief executive officer Azrul Osman Rani said in the statement.
PDB will continue to expand its revenue streams in a sustainable manner as well as in the sustainability sector which includes accelerating the adoption of clean energy in the green mobility space by growing the number of fast-charging facilities at Petronas stations through collaborations with established electric vehicle (EV) industry partners.
It added that this is in support of PDB’s sustainability agenda, and the government’s target of becoming a carbon-neutral nation by 2050, with the full-tax exemptions on EV starting 2022.
To enhance seamless end-to-end charging experience for its EV customers, Setel introduced a new feature which enables EV drivers to locate charging stations, activate chargers, make payments via Setel Wallet and earn Mesra points – all from the comfort of their vehicles.
“We will continue to enhance our offerings in providing cleaner energy solutions and focus on our future-proof strategies while expanding more collaborative efforts in supporting the sustainability agenda to bring value-added propositions to our customers,” Azrul concluded. — DayakDaily
