Update Petronas Dagangan 3Q profit at RM226m, declares 17.5sen dividend

Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Thursday, 31 October 2013 19:21
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KUALA LUMPUR (Oct 31): Petronas Dagangan Berhad (PDB) posted a slightly
lower profit of RM226.2 million for the third quarter ended Sept 30, 2013,
compared to RM242.8 million a year ago.
For the quarter, it posted a higher revenue of RM8.4 billion, an increase of
RM922.1 million as compared to the corresponding quarter last year, resulting
from an increase in sales volume by 9.7% and an increase in average selling
price by 2.4%.
In a press statement, the Petronas unit said the unfavourable Means of Platts
Singapore (MOPS) price movement and higher operating expenditure have
resulted in a profit before tax of RM315.7 million for the quarter, a decrease of
RM24.8 million as compared to the corresponding quarter last year.
Hence, earnings per share decreased to 22.8 sen from 24.4 sen for the same
quarter in the preceding year.
Aminul Rashid Mohd Zamzam, the Managing Director and Chief Executive
Officer of PDB, said in the statement: “We have performed credibly and
successfully grow our sales volume for this quarter.
PDB anticipates that the industry will remain challenging due to the ongoing
uncertainties in the global economy. However, we are confident in retaining our
overall market leadership position.”
The Board has declared an interim dividend using single tier of 17.5 sen per
ordinary share.
For the nine months to September 2013, PDB posted a total profit of RM660.4
million -- flat compared to RM660.3 million of Jan-Sept 2012. Revenue rose to RM23.95 billion, from RM21.83 billion.
PDB is the principal domestic marketing arm of Petroliam Nasional Berhad (PETRONAS), the national oil company, which holds 69.86% of
its equity.