PDB remains cautious, posts RM541.0 mil operating profit

PETRONAS Dagangan Berhad (PDB) has doubled its Profit Before Tax (PBT) to RM541.0 million for the cumulative nine-month period ended 30 September 2021 compared to the same period last year.

The Company’s revenue also increased by 8% to RM15,448.0 million for the same period.

Nevertheless, the stricter restriction imposed in the quarter ended 30 September 2021 (Q3FY2021) saw PDB’s PBT decrease to RM165.5 million as compared to RM288.3 million in the corresponding quarter last year.

However, the Company’s revenue for the same quarter rose to RM5,200.7 million from RM4,830.5 million in the corresponding quarter last year due to higher average selling prices.

PDB has declared an interim dividend of 20 sen per ordinary share for the quarter ended September 30, 2021.

“Although our Q3 performance has been impacted by the prolonged MCO, we are seeing growth in our year-to-date performance,” PDB Managing and Chief Executive Officer Azrul Osman Rani said.

“We are optimistic of maintaining the growth recovery with more economic sectors reopening under the National Recovery Plan in July 2021 and increasing vaccination rate, coupled with the lifting of state travels and the gradual easing of overseas travel starting October 2021.”

He said that PDB remains cautious of the rate of recovery given the rising cases globally.

“At the same time, we are monitoring the market trend closely for growth opportunities and will accelerate the roll-out of targeted marketing campaigns, whilst leveraging strategic partnerships and digital platform to continue to bring value-add to our customers,” he added. — TMR