PETALING JAYA: Bermaz Auto Bhd (BAuto) reported lower group revennue and profit before tax (PBT) of RM646.9 million and RM57.1 milion respectively in the second quarter ended Oct 31, 2024 compared to RM1.01 billion and RM122.8 milion respectively in the preceding year’s corresponding quarter.
The decline in group revenue of RM360.1 million or 35.8%, was mainly due to lower sales volume from its Mazda and Kia marque domestic operations arising from increasing competition in the automotive industry.
The higher group revenue in the preceding year’s corresponding quarter was mainly attributable to the Mazda marque domestic operations, especially from its CX-30 CKD model which continued to register higher sales since its launch in March 2023.
The group’s PBT recorded a decrease of RM65.8 million or 53.6% compared to the preceding year’s corresponding quarter. The drop was mainly due to lower group revenue.
The group has also accounted for the expense relating to its em-ployees’ share scheme amounting to RM2 million in the quarter under review compared to RM0.1 million in the previous corresponding period.
For the six months period ended Oct 31, 2024, the group reported lower revenue and PBT of RM1.49 billion and RM154.8 million respectively compared to the preceding year’s corresponding period which reported group revenue and PBT of RM2.1 billion and RM263.5 million respectively.
The decline in group revenue by RM603.2 million or 28.8%, was mainly due to lower sales volume from its Mazda and Kia marque domestic operations arising from the increasing competitive environ-ment in the automotive industry with the influx of Chinese-made vehicles in the market, which are competitively priced with ad-vanced connectivity features.
The group’s PBT recorded a decrease of RM108.7 million or 41.2% compared to the preceding year’s corresponding period. The decrease was mainly due to lower group revenue.
The group has also accounted for the expense relating to its employees’ share scheme of about RM4 million in the period under review compared to RM0.2 million in the preceding year’s corres-ponding period.
On Dec 2, 2024, the board approved and declared a special dividend of 7 sen single-tier dividend per share in respect of the financial year ending April 30, 2025 to be payable on Dec 30, 2024 (none in the preceding year’s corresponding period). The entitlement date for the special dividend was fixed on Dec 18, 2024.
For the current quarter ended Oct 31, 2024, the board has approved and declared a second interim dividend of 3 sen single-tier dividend per share in respect of financial year ending April 30, 2025 (preceding year’s corresponding quarter ended Oct 31, 2023: 5 sen single-tier dividend per share). The entitlement date has been fixed on Jan 17, 2025 and payable on Feb 7, 2025.
The board anticipates the performance of the group to be challenging for the financial year ending April 30, 2025.
