Kuala Lumpur, 11 May 2015 – PETRONAS Dagangan Berhad (PDB) started the new financial year on a positive note by registering a profit before tax of RM283.8 million - a 27% increase compared to the corresponding quarter last year. The increase was due to lower operational expenditure for the current quarter.

Revenue for the period under review was RM6,101.2 million, a decrease of 26% as compared to the results of the corresponding quarter last year mainly due to a decrease in selling prices during the quarter.

“We are undertaking efforts to mitigate the impact of oil price volatility. The interventions we have in place have helped to address the current cost environment through measures including managing operating expenses through cost reduction efforts, inventory optimisation and enhancing supply and distribution efficiency,” said Mohd Ibrahimnuddin Mohd Yunus, Managing Director and Chief Executive Officer of PDB.

Earnings per share for the quarter was 20.7 sen - a 33% increase compared to the corresponding quarter last year as a result of higher profit for the current quarter.

Total equity attributable to shareholders was RM4,745.2 million, a RM7.0 million decrease compared to the corresponding quarter last year due to dividends paid to shareholders.

For the Retail Business, the decrease in profit by 15% against the corresponding quarter last year mainly due to lower Diesel sales volume arising from stricter enforcement by the Government to curb Diesel leakages.

However, income from Kedai Mesra, a Retail Business segment, saw an increase of 7% as compared to the corresponding quarter last year. This sets the tone for positive growth for this year in achieving last year’s benchmark of chargeable sales of more than RM1 billion for Kedai Mesra.

The Commercial Business saw an increase in profit by 9% due to higher margins and sales volume from Bitumen and Diesel compared to the corresponding quarter last year.

The LPG Business also did well by recording a growth of 10% in margins compared to the corresponding quarter last year, sustaining its domestic market leadership position as Malaysia’s No. 1 Cooking Gas.
Meanwhile, the Lubricants Business, which is a very competitive segment, achieved a decrease of 7% in margins compared to the corresponding quarter last year due to a lower volume performance.

"We started the new financial year on a positive note despite uncertainties in the market environment and cautious consumer spending patterns, which may have impacted the demand for fuels. We still expect to face challenges this year, however, we will continue to overcome them and seize market opportunities to push ahead as brand of choice in the retail industry," concluded Ibrahimnuddin.