Latest news with #PetDagang
New Straits Times
23-05-2025
- Business
- New Straits Times
Petronas Dagangan's Q1 net profit jumps 29.8pct to RM293.5mil, boosted by lower spending
KUALA LUMPUR: Petronas Dagangan Bhd's (PetDag) net profit rose 29.8 per cent to RM293.5 million in the first quarter ended March 31, 2025 (1Q25) from RM226.04 million a year ago. This was boosted by lower expenditure and higher other income, the company said. However, PetDagang's quarterly revenue declined to RM9.09 billion from RM9.39 billion previously, its filing to Bursa Malaysia showed. Its earnings per share came in higher at 29.50 sen compared to 22.80 sen in 1Q24. The group announced an interim dividend of 20 sen per share (RM198.69 million), up from 18 sen per share last year, to be paid on June 21. Meanwhile, PetDagang recorded a pre-tax profit of RM409.2 million for the quarter, higher against 1Q24 and 4Q24 by 25 per cent and 13 per cent respectively. The higher profitability was mainly driven by lower expenditure across all segments, coupled with marginal improvements on gross profit. This was further supported by favourable price trends for commercial segment. Total volume was slightly lower against both 1Q24 and 4Q24. The group's retail segment recorded lower volume from Mogas and diesel as a result of the shift towards cautious consumer spending during festive period in the quarter under review. However, commercial segment continued to capitalise on the higher demand for Jet A1, softening the overall reduction on total volume. PetDagangan said while the ongoing global uncertainties still remain, the group will continue to monitor potential indirect effects, particularly inflationary pressures towards its supply chain. "Amid this backdrop, the economic environment is expected to be resilient. "This positions the group to sustain its growth, anchored by steady consumer spending and robust investment activity," it added.
New Straits Times
24-04-2025
- Automotive
- New Straits Times
Petronas Dagangan to branch out offerings, explore low-carbon solutions
KUALA LUMPUR: Petronas Dagangan Bhd (PetDagang) plans to diversify its offerings and explore low-carbon solutions, aligning with the broader goals of the National Energy Transition Roadmap (NETR). The company will also sharpen its focus on long-term shifts in consumer behaviour, including increased mobility, evolving and more transient commuter patterns, as well as the growing demand for convenient lifestyle. For the financial year ended Dec 31, 2024, PetDagang reached its highest-ever sales volume of 16.8 billion litres, reinforcing its market leadership in both retail and commercial segments. Revenue for the year totalled RM37.95 billion, driven by higher sales volumes, particularly from Mogas and Jet A-1, despite a lower average selling price. Operating profit increased by 15 per cent to RM1.55 billion, supported by higher gross profit across all segments. This was partly offset by increased expenditure linked to business growth. Its pre-tax profit improved 15 per cent to RM1.53 billion, while net profit rose to a post-pandemic record of RM1.12 billion, marking the first time the company surpassed the RM1 billion mark since the pandemic. PetDagang managing director and chief executive officer Azrul Osman Rani said the past year served as a reminder that staying grounded in its purpose, customers and execution is what drives the company forward. "As needs evolve and the landscape shifts, we are moving with focus and intent, while staying true to what makes us different - the ability to create simpler, better experiences in everyday life," he said in a statement in conjunction with the company's 43rd annual general meeting (AGM) here today. PetDagang delivered a solid performance across its business segments, achieving key milestones in both financial and operational outcomes. In its retail business, the company achieved its highest-ever sales volume while continuing to enhance customer experience and safety across the network. The commercial business recorded strong growth by maximising returns from high-value segments, with volume increasing by nine percent in aviation and 19 percent in diesel. The LPG business reaffirmed its position as Malaysia's leading LPG retailer, achieving its highest volume since 2016 and securing over 50 new commercial customers during the year. In the lubricants business, PetDagang reinforced its market leadership through strong partnerships and posted a nine per cent volume growth, surpassing industry benchmarks. Mesra Retail and Café Sdn Bhd (Mesra) maintained its momentum as a retail and lifestyle hub, with chargeable sales reaching a record high for the third consecutive year. Setel achieved an all-time high in gross merchandise value, continuing to deliver a seamless and rewarding customer experience.
