BERMAZ Auto Bhd’s net profit for the second quarter ended Oct 31, 2024 (2Q24) dropped by 55.1% to RM40.3 million, down from RM90 million in 2Q23, primarily due to a decline in group revenue.

The company’s revenue also fell 35.7%, reaching RM646.8 million compared to RM1 billion in the same quarter last year.

This drop was attributed to lower sales volume from its Mazda and Kia marques in the domestic market, amid the increasingly competitive automotive environment.

In response, Bermaz Auto has declared a second interim dividend of 3 sen per share, which will be payable on Feb 7, 2025.

For the first half of FY2025, Bermaz Auto reported a 41.9% decline in net profit, which amounted to RM110.5 million, down from RM190.3 million in the previous year.

Revenue for the period also fell by 28.7%, totaling RM1.49 billion compared to RM2.09 billion in FY2024.

Looking ahead, Bermaz Auto anticipates a challenging year, with vehicle sales in the country affected by the influx of Chinese-made vehicles.

“The launching of new and/or new facelifts models of the group’s existing and new vehicle marques are dependent on the market sentiments and economic conditions then,” the company said in a statement. — TMR