KUALA LUMPUR: DRB-Hicom Bhd posted revenue of RM3.44 billion for the quarter ended 30 June 2019, marking a 29.5 per cent jump compared to RM2.65 billion posted in the same period a year ago.
This performance enabled DRB-Hicom to post a profit before tax (PBT) of RM146.72 million for the quarter, reversing a pre-tax loss of RM94.4 million for the same period a year ago.
The year-on-year (YoY) improvement was derived mainly from improved sales in the automotive sector.
Automotive sector revenue recorded a 59.2 per cent jump YoY to RM2.23 billion, as Proton Holding Bhd’s various launches of facelifted models, as well as promotions by other marques in the Group’s stable boosted sales.
Overall, up to July 2019, Proton has delivered 52,108 units of vehicles so far in 2019, compared to the 35,561 units it sold in the same period in 2018.
DRB-Hicom’s revenue for the services sector remained flat at RM1.09 billion, while properties sector revenue was lower as construction-related projects were at various stages of progress.
The Group’s automotive businesses are expected to remain resilient.
Public response to Proton’s improved models, as well as new models by other marques in the portfolio should aid the performance.
Pos Malaysia Bhd’s businesses continue to operate in a competitive environment affected by price and cost challenges, but efforts are on-going to address the issues.
The Group’s other businesses in defense, banking, postal and logistics, concession and property will continue its momentum in achieving a sustainable business model amidst a challenging market.
The Group expects to achieve satisfactory performance for the current financial year ending 31 December 2019.
As announced in July, DRB-Hicom will operate a 9-month financial year in 2019 following its decision to move its fiscal year end from March to December.