Berjaya Auto Q2 net profit nearly quadrupled to RM27mil, declares 1.75 sen dividend

KUALA LUMPUR: Berjaya Auto Bhd’s second quarter ended Oct 2013 net profit almost quadrupled to RM27.6mil from RM7.8mil a year ago due to favourable sales mix and improvement in gross profit margin.
Its revenue rose 29.9% to RM282.4mil from RM217.2mil due to the good demand for Mazda CX-5 and Mazda6 models in Malaysia, as well as contribution from Berjaya Auto Philippines Inc.
Earnings per share for the quarter was higher at 3.83 sen from 1.09 sen previously, it told Bursa Malaysia on Friday.
The group has declared a 1.75 sen dividend.
“The board has recommended a first interim dividend of 1.75 sen single-tier exempt dividend per share (previous year corresponding quarter ended Oct 31, 2012: Nil) in respect of financial year ending Apr 30, 2014 to be payable on Jan 28, 2014.
“The entitlement date has been fixed on Jan 16, 2014,” it said.
For its year-to-date, its profit almost tripled to RM53.68 from RM21.1mil a year ago while revenue rose 64.7% to RM710.8mil from RM431.5mil a year ago.
For its second quarter the group said it achieved higher pretax profit from favourable sales mix, improvement in gross profit margin for certain popular models in Malaysia, consolidation of BAP's results, and share of profit in Mazda Malaysia Sdn Bhd.
Moving forward, the group expects its performance for the remaining quarters to be satisfactory, in line with the group’s plans to launch a few more car models in future.