Kuala Lumpur, 11 May 2016 – PETRONAS Dagangan Berhad (PDB) sets the tone for a positive outlook this financial year by registering a profit before tax of RM294.0 million, a 4% increase compared to the corresponding quarter last year.
Revenue for the period under review was RM4,929.4 million, a 19% decrease compared to the results of the corresponding quarter last year due to a decrease in selling prices.

“The prudent measures we have implemented, namely, inventory management, supply and distribution efficiency and cost optimisation initiatives have worked well for us in the last financial year and continues to contribute to the profitability of the Company this quarter amidst volatile oil prices,” said Mohd Ibrahimnuddin Mohd Yunus, Managing Director and Chief Executive Officer, PDB.

The Company’s earnings per share increased to 22.1 sen compared to 20.7 sen during the corresponding quarter last year as a result of higher profit for the period.

The total equity attributable to shareholders was RM4,954.6 million, a slight increase compared to the corresponding quarter.

The Retail Business saw a slight improvement in volume due to aggressive promotions and campaigns carried out during the period under review.

For the Commercial Business, the Company was able to maintain the volume level as per the corresponding quarter last year even though there was a lower demand for diesel from Upstream’s exploration and production, as well as fishery sectors.

The LPG Business experienced strong performance with a 20% increase in gross margin compared to the corresponding quarter last year due to measures implemented including cost saving initiatives and cylinder turnaround efficiency.

Meanwhile, the Lubricants Business recorded a volume increase of 16% as a result of higher upliftment from the car manufacturers, as well as plantation and marine segments.

“We will continue to ensure the long term sustainability of the company by emphasising on providing innovative solutions to customers, focusing on being brilliant at basics, enhanced customer experience and superior products, while at the same time ensuring optimum practices of our operations to continue delivering value to our shareholders.

“We are committed to our vision of becoming Brand of 1st Choice. As such, strategies and mechanisms to adapt in the current environment will help to cushion the impact of volatile oil prices to our overall performance,” concluded Ibrahimnuddin.