Wednesday, August 10, 2011

Petronas Dagangan posts RM208.73m net profit, declares 15c dividend

KUALA LUMPUR: PETRONAS DAGANGAN BHD [] posted net profit RM208.73 million on the back of revenue RM7.54 billion for the three months ended June 30, 2011.

Earnings per share was 21 sen while net assets per share was RM5.04.

The company declared a gross interim dividend of 15 sen per share for the three months ended June 30, ''totaling RM111.76 million, payable on Sept 22.

The company had on March 2 this year announced the change of its financial year end from March 31 to Dec 31 beginning from April 2011, resulting in no equivalent comparative quarters.

Commenting on its prospects, Petronas Dagangan said on Wednesday, Aug 10 that market demand conditions remain challenging due to the slowdown in economic growth and rising inflation rates.

However market leadership will continue to be maintained with continuous strategic marketing efforts and initiatives, it said.

The company said efforts to improve margin would continue through cost optimisation and operational efficiency initiatives.

'Profits for the current year will be lower due to the 9-month financial period arising from the change in financial year end to 31 December beginning from April 2011.

'The profits may be impacted by fluctuations in international oil price, petroleum product costing and global economy,' it said.


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