KUALA LUMPUR, 21 MAY 2024 – PETRONAS Dagangan Berhad today announced its financial results for the first quarter of 2024, achieving a revenue increase of RM747.6 million compared to the corresponding quarter.

This growth was driven by a combination of factors, including a notable rise in sales volume across all business segments, the successful execution of targeted promotional campaigns and a strategic focus on high-growth areas like the commercial fleet and transportation sectors. Additionally, a resurgence in passenger traffic, particularly bolstered by the recovering tourism sector, further contributed to this positive revenue trend. PETRONAS Dagangan registered a pre-tax profit of RM326.8 million for the quarter, primarily driven by strong volume and healthy margin.

PETRONAS Dagangan Managing Director and Chief Executive Officer Azrul Osman Rani said, “With the convergence of increased tourism and strategic events like the PETRONAS Malaysia Open, we were intensely focused on ensuring effective commercial execution and maintaining operational excellence across all touchpoints of our core and convenience businesses. This quarter, we continued to leverage our extensive ecosystem to drive our promotional strategies and sustain our growth trajectory.”

As part of its commitment to a holistic approach, PETRONAS Dagangan also continued its efforts in sustainability this quarter by expanding its low-carbon mobility solutions and promoting responsible environmental practices. A key highlight of the quarter was the expansion of the used cooking oil (UCO) collection programme during Ramadan, which underscores PETRONAS Dagangan’s commitment to innovative environmental initiatives.

Looking ahead, Malaysia’s Gross Domestic Product (GDP) growth for 2024 is expected to remain steady, supported by ongoing expansions in key economic sectors such as construction, services, manufacturing and tourism. Meanwhile, the oil market is expected to remain dynamic, with potential fluctuations influenced by geopolitical tensions and global economic trends. PETRONAS Dagangan will continue to drive value creation within its core business areas and foster growth in its Retail and Commercial segments. The Company also anticipates growth in its Convenience segment during the festive season, driven by increased activity at Café Mesra and Kedai Mesra.

“As we look to the future, we remain cognisant of the broader economic shifts and the ongoing challenges within our industry. Yet, we are more committed than ever to making our customers’ lives simpler and better, by enhancing their experiences through every interaction with our products and services,” Azrul added.