PETALING JAYA: Bermaz Auto Bhd’s (BAuto) net profit for its first quarter ended July 31, 2021 increased 11% to RM10.27 million from RM9.25 million in the previous year’s corresponding quarter, largely due to lower share of loss from one of its associated companies Mazda Malaysia Sdn Bhd (MMSB), and higher profit contribution from the domestic operations.
The lower share of loss from MMSB during the quarter was due to lesser impact in June and July 2021 as compared to the corresponding quarter of the previous year where the unit sales was low during the whole quarter. The higher profit contribution from the domestic operations despite registering lower sales was primarily due to cost saving measures implemented by the group.
However, BAuto’s revenue dropped 28.54% to RM320.79 million in the current quarter as compared to the revenue of RM448.89 million registered in the corresponding quarter of the previous year largely due to lower sales volume registered from the domestic operations attributed to the full lock down under Phase 1 of the National Recovery Plan where all showrooms were not allowed to operate for two months since the beginning of June 2021.
BAuto declared a first interim dividend of 50 sen single-tier dividend per share in respect of financial year ending April 30, 2022 to be payable on Nov 5. The entitlement date has been fixed on Oct 18.
The group anticipates its performance for the remaining quarters of the financial year ending April 30, 2022 to remain challenging and uncertain.