SHAH ALAM: DRB-Hicom Berhad achieved a pre-tax profit (PBT) of RM401.20 million for the first nine months of FY2023. This was on the back of RM12.08 billion in revenue, which increased by 8.2% against the corresponding period last year.
For the current quarter ended Sept30, 2023, the Group recorded a revenue of RM4.00 billion. PBT stood at RM115.49 million, compared with RM84.95 million in the preceding quarter ended June 30, 2023.
The Group’s performance in the first nine months of FY2023 was mainly driven by the automotive sector, which reported a 9.4% increase in revenue compared with the corresponding period last year (9MFY2023: RM8.76 billion; 9MFY2022: RM8.01 billion). This was mainly from Proton as well as DRB-Hicom’s automotive distribution companies, and manufacturing and engineering companies.
Proton continued its upward sales trajectory by 14.1% or 116,832 units sold within the first nine months of the year (9MFY2022: 102,353 units). Proton Saga remained its best-selling model with 51,484 units delivered, followed by the Proton X50 SUV and Persona, with a cumulative sales performance of 43,574 units. Proton’s first new energy vehicle, the mild hybrid Proton X90 SUV, had attracted more than 4,000 new owners since its launch in May 2023.
The Banking sector reported a 36.6% increase in revenue (9MFY2023: RM1.26 billion; 9MFY2022: RM0.92 billion). This was primarily due to higher financing income led by the growth in financing volume attributed to sustainable growth and expanding customer base, as well as a rise in the Overnight Policy Rate (OPR) to 3.00% in the current period against 2.50% in the corresponding period.
The services sector also reported a revenue increase of 11.8% (9MFY2023: RM609.93 million; 9MFY2022: RM545.52 million), mainly due to higher revenue driven by the in-flight catering business with a higher number of meals prepared, as well as higher revenue from automotive logistics and marine business.
The Group remains steadfast in executing its strategies to drive the business forward. In the automotive sector, Proton will penetrate the niche local EV market by featuring advanced technology within its line-up in the coming years. Other marques within the Group’s stable, such as Honda, Mitsubishi and Isuzu, will further create market interest with the introduction of exciting new models that are currently in the pipeline.
The Group’s other business sectors i.e. banking, aerospace & defence, services and properties will remain focused on preserving value and intensifying sustainability efforts. The postal sector continues its transformation journey, emphasising digitalisation efforts to streamline postal operations, improve customer experience and develop new business potentials. These efforts aim to strengthen resiliency in responding to challenging market conditions.
The Group expects satisfactory performance for the financial year ending Dec 31, 2023.
