PETRONAS Dagangan Bhd (PDB), which markets petroleum products and operates service stations, posted an 8.5 per cent increase in pre-tax profit to RM300.4 million for the second quarter to September 2011, up from RM284.25 million a year ago.
Group revenue rose 32.9 per cent to RM7.3 billion.
PDB is adjusting to a new financial calendar that ends on December 31, from March 31.
The stronger results were attributed to the steady increase in demand for high quality petroleum products, healthy demand from the commercial sector, which resulted in higher selling price of products and sales.
Gross profit increased 15.6 per cent, thanks partly to higher margins from Mogas and Bitumen sales.
"We are pleased to have achieved good performance in the second quarter. While the market demand conditions remain challenging, we are determined to continue to grow our business across all four core businesses, namely retail, commercial, LPG (liquefied petroleum gas) and lubricants," said Amir Hamzah Azizan, managing director and chief executive officer of PDB.
The company announced an interim dividend of 15 sen less tax at 25 per cent for the quarter, amounting to a total of RM111.76 million, payable in December.
Its retail segment grew during the quarter, mainly helped by its latest fuel, the Petronas Primax 95 Xtra.
PDB expects to sustain strong performance from its domestic operations, while exploring opportunities to grow its presence outside Malaysia, particularly in the Southeast Asian region.
"We are confident this will help fuel our future growth prospects, as it is a part of our strategy to reinforce Petronas' position as a first choice brand.
"While we have identified regional opportunities as a growth driver, PDB will only pursue such opportunities where it clearly complements our existing business plans and operating values.
"Moreover, we are cognisant of the volatile global economic environment and rising inflation rates as well as fluctuations in international oil price and product costing, which may impact our businesses and future plans," Amir Hamzah explained.
PDB will ramp up efforts to maintain its market leadership through continuous marketing initiatives and strategic partnerships globally.
The company will further improve its margins through ongoing stringent cost optimisation and operational efficiency initiatives across the organisation.
Group revenue rose 32.9 per cent to RM7.3 billion.
PDB is adjusting to a new financial calendar that ends on December 31, from March 31.
The stronger results were attributed to the steady increase in demand for high quality petroleum products, healthy demand from the commercial sector, which resulted in higher selling price of products and sales.
Gross profit increased 15.6 per cent, thanks partly to higher margins from Mogas and Bitumen sales.
"We are pleased to have achieved good performance in the second quarter. While the market demand conditions remain challenging, we are determined to continue to grow our business across all four core businesses, namely retail, commercial, LPG (liquefied petroleum gas) and lubricants," said Amir Hamzah Azizan, managing director and chief executive officer of PDB.
The company announced an interim dividend of 15 sen less tax at 25 per cent for the quarter, amounting to a total of RM111.76 million, payable in December.
Its retail segment grew during the quarter, mainly helped by its latest fuel, the Petronas Primax 95 Xtra.
PDB expects to sustain strong performance from its domestic operations, while exploring opportunities to grow its presence outside Malaysia, particularly in the Southeast Asian region.
"We are confident this will help fuel our future growth prospects, as it is a part of our strategy to reinforce Petronas' position as a first choice brand.
"While we have identified regional opportunities as a growth driver, PDB will only pursue such opportunities where it clearly complements our existing business plans and operating values.
"Moreover, we are cognisant of the volatile global economic environment and rising inflation rates as well as fluctuations in international oil price and product costing, which may impact our businesses and future plans," Amir Hamzah explained.
PDB will ramp up efforts to maintain its market leadership through continuous marketing initiatives and strategic partnerships globally.
The company will further improve its margins through ongoing stringent cost optimisation and operational efficiency initiatives across the organisation.
