PETALING JAYA: Bermaz Auto Bhd posted a better net profit of RM155.72 million for the financial year ended April 30, 2022 (FY22) , up from RM133.84 million in the previous financial year, mainly due to better margin from vehicle sales.
Revenue improved to RM2.32 billion from RM2.29 billion previously, largely due to sales contribution from the newly acquired Peugeot and Kia marques.
In line with the increase in revenue, the group’s pre-tax profit improved by RM32 million or 38.3% largely due to higher profit contribution from the domestic Mazda operations, as well as positive contribution from the Peugeot operations.
Improved margins from sales mix of completely-knocked down models, the strengthening of the ringgit against the Japanese yen and reversal of provisions no longer required also contributed to the increase in pre-tax profit.
For the quarter ended April 30, 2022, the group reported higher revenue and higher pre-tax profit of RM897.4 million and RM115.4 million respectively, compared with the preceding year’s corresponding quarter which reported a revenue and pre-tax profit of RM641.2 million and RM83.5 million respectively.
The increase in group revenue of RM256.2 million or 40% was achieved mainly due to the higher overall sales volume from the group’s Mazda, Peugeot and Kia operations as consumers rushed to register vehicles before the expiration of the sales tax exemption incentive at the end of this month.
The better quarter was evident as the country entered the “transition to endemic” phase of Covid-19 in April 2022. The rules were further relaxed in May 2022 with the removal of all restrictions on business.
Bermaz Auto announced a fourth interim dividend of two sen single-tier dividend per share and a special dividend of 2.5 sen single-tier dividend per share in respect of the financial year ended April 30, 2022, payable on Aug 4, 2022.