KUALA LUMPUR, Feb 24 — DRB-Hicom Bhd slipped to a net loss of RM296.42 million in the financial year ended December 31, 2021 (FY2021) from a net profit of RM554.13 million a year earlier in tandem with weaker revenue for the year.
For FY2021, the group recorded lower revenue by 5.9 per cent to RM12.38 billion from RM13.16 billion year-on-year, it said in a filing with Bursa Malaysia today.
For the fourth quarter, DRB-Hicom posted significantly lower net profit of RM117.47 million from RM985.99 million in the same period last year while revenue went down to RM4.12 billion from RM4.85 billion previously.
Moving forward, the group said its automotive sector remained a driving force for its growth with Proton ending 2021 on a high note by selling 114,708 cars, the highest since 2014.
“Despite the challenging business climate, Proton’s market share improved to 21.9 per cent compared to 20.5 per cent in the previous year,” said DRB-Hicom in the filing.
As the global economy gradually reopens, the group said its businesses in aerospace and defence were expected to gear up their production while staying flexible in meeting ever-changing customers’ demands.
For the postal segment, the ongoing turnaround plan focusing primarily on rigorous cost efficiency and customer-centric strategy is expected to improve its overall performance, added DRB-Hicom.
“Other businesses in banking, services and properties will continue to operate efficiently by optimising cost management and improving business productivity,” said the group. — Bernama