by DayakDaily Team
KUCHING, Feb 20: Petronas Dagangan Bhd (Petronas Dagangan) delivered a 27 per cent surge in pre-tax profit for the fourth quarter of the financial year 2024 (FY24), supported by favourable market conditions and its disciplined cost management.
The group also declared an interim dividend of 25 sen per ordinary and a special dividend of 20 sen per ordinary share for the quarter ended Dec 31, 2024. For FY24, the company has declared total dividend of 107 sen per ordinary share, which represents 100 per cent payout ratio.
In a press release today, it explained that for the quarter ended Dec 31, 2024, it delivered a 27 per cent increase in pre-tax profit for 4QFY24 compared with 4QFY23, reaching RM361.8 million.
It said, this was driven by robust margins on the back of favourable market conditions and disciplined cost management.
It further highlighted that this performance underscores the company’s focus on sustained profitability, supported by strategic portfolio optimisation and cost efficiencies, with both retail and commercial segments contributing to the overall results.
For the 12-month period, the group achieved an all-time high annual sales volume of 16.8 billion litres.
This contributed to an increase in revenue to RM38.0 billion, reflecting stronger overall demand despite lower average selling prices.
With this momentum, Petronas Dagangan delivered a 15 per cent rise in pre-tax profit to RM1.5 billion, fuelled by a combination of enhanced customer experience at Petronas stations, targeted promotional campaigns such as Bonanza 50 and data-driven marketing strategies, which highlighted the effectiveness of the Company’s customer engagement efforts.
Petronas Dagangan managing director and chief executive officer Azrul Osman Rani said, “This year’s performance reaffirms the strength of our strategy execution.
“Despite a challenging environment, our ability to deliver sustained profitability reflects the robustness of our business model, the trust of our customers and disciplined approach in navigating market shifts. These results demonstrate how we continuously refine our playbook – staying agile, driving efficiencies and positioning ourselves for long-term value creation.”
Beyond delivering strong financial results, Petronas Dagangan said it remained committed to driving sustainability and enriching communities as part of its long-term strategy.
Through its used cooking oil (UCO) initiative, the company encouraged responsible waste management by enabling customers to trade UCO for cash incentives, reinforcing its commitment to social and environmental responsibility.
Complementing its sustainability efforts, Petronas Dagangan also expanded its broader community support by providing relief aid during major flood disasters across Malaysia to support affected communities through crisis response efforts.
Looking ahead, Petronas Dagangan said it expected steady private consumption, accelerated implementation of national development plans and a more stable operating environment in 2025.
However, global trade uncertainties and moderating oil prices could influence market conditions.
Against this backdrop, the company said it remains committed to strengthening its core and convenience segments by leveraging strategic initiatives and capitalising on market opportunities.
Azrul added, “We are entering 2025 with a clear ambition to build on our momentum and stay ahead in a changing landscape.
“Our focus is on what truly matters – delivering value, deepening customer trust and making everyday life simpler and better. With the right fundamentals in place, we are ready to navigate challenges and drive the next phase of growth.” – DayakDaily
