DRB-HICOM Bhd achieved a higher pre-tax profit of RM164.06 million for the second quarter ended Sept 30, 2011 compared with RM146.31 million in the preceding quarter.
The 12.1 per cent improvement was attributed to higher results from operating companies as well as the recognition of share of results of POS Malaysia Bhd, equity accounted from July 2011, the group said in a statement here, today.
For the six months ended Sept 30, 2011, DRB-HICOM achieved a lower revenue of RM3.06 billion compared to RM3.20 billion in the previous corresponding period.
The decline in revenue was mainly due to lower sales recorded by the automotive sector in line with the lower total industry volume (TIV) for motor vehicles during the period under review, the group said.
The automotive and automotive components supply constraints arising from the flood situation in Thailand compounded with the unfavourable exchange rate movements are expected to affect the group’s automotive business.
Group managing director Datuk Seri Haji Mohd Khamil Jamil said the group will continue to pursue various cost management initiatives and remain prudent in business approaches to minimise the negative impact due to the exchange rate volatility and supply uncertainty.
He added given the prevailing conditions, the group’s financial performance for the financial year ending March 31, 2012 will remain challenging. -- Bernama
The 12.1 per cent improvement was attributed to higher results from operating companies as well as the recognition of share of results of POS Malaysia Bhd, equity accounted from July 2011, the group said in a statement here, today.
For the six months ended Sept 30, 2011, DRB-HICOM achieved a lower revenue of RM3.06 billion compared to RM3.20 billion in the previous corresponding period.
The decline in revenue was mainly due to lower sales recorded by the automotive sector in line with the lower total industry volume (TIV) for motor vehicles during the period under review, the group said.
The automotive and automotive components supply constraints arising from the flood situation in Thailand compounded with the unfavourable exchange rate movements are expected to affect the group’s automotive business.
Group managing director Datuk Seri Haji Mohd Khamil Jamil said the group will continue to pursue various cost management initiatives and remain prudent in business approaches to minimise the negative impact due to the exchange rate volatility and supply uncertainty.
He added given the prevailing conditions, the group’s financial performance for the financial year ending March 31, 2012 will remain challenging. -- Bernama
