Kuala Lumpur, 26 November 2021
- Despite the prolonged Movement Control Order (MCO), 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.
Commenting on the performance, PDB Managing Director and Chief Executive Officer Azrul Osman Rani said, "Although our Q3 performance has been impacted by the prolonged MCO, we are seeing growth in our year-to-date performance. 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. However, we remain 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.
Recently, PDB's Retail business has converted all its diesel to PETRONAS Dynamic Diesel Euro 5 with Pro-Drive, making it the largest petrol station network to offer the cleaner fuel option. With the widest accessibility and its unique Pro-Drive formulation, PDB is confident to grow its customer base in this segment.
The Retail business continues to accelerate its non-fuel segment, including expanding its food-on-the-go (ready-to-eat) solutions corner and [email protected], which offers fresh produce at affordable prices. There are currently 30 stations with [email protected] and expansion is underway. PDB has also rolled out its five-month nationwide Mesra-Visa Kasih Bonanza campaign offering prizes worth RM1 million in cash and Mesra points to over 1,000 winners. The five-month campaign is expected to drive volume as well as footfall into the stations.
The Commercial business is also seeing signs of recovery as more economic sectors as well as international borders reopen, boosting its performance in the aviation and marine sectors. During the quarter under review, the business also successfully defended key contracts and strengthened its customer base.
The LPG business will continue to strengthen its distribution channel strategically at PETRONAS stations and mini markets as well as expand the availability of its Gas PETRONAS mobile app to widen the product's accessibility for the convenience of its customers.
The Lubricant business continues to widen its customer reach by strengthening its e-commerce presence and bringing value-added solutions such as the Online to Offline (O2O) option. The O2O service allows customers to purchase and book services offered by its network of PETRONAS AutoExpert via the e-commerce platform, thus making their everyday life simpler and better.
In line with its portfolio diversification, PDB recently acquired of D-Two Couriers (M) Sdn Bhd to provide parcel delivery service and is expected to reach nationwide coverage by end of the year.
"While we roll-out these business initiatives, we continue to prioritise giving back to the community through our Food Bank programme and donation drive with the Malaysian Red Crescent Society," Azrul said.
The Food Bank Programme, which was launched in July has since been extended to more than 350 PETRONAS stations in Malaysia and further gained the support from its customers, partners and employees.
PDB has also recently initiated a donation drive for the Malaysian Red Crescent Society's (MRCS) pandemic relief programmes aimed at assisting front-liners and communities battling COVID-19. Mesra cardmembers can opt to redeem their points as donations to any of MRCS' programmes including donations for COVID-19 Response Efforts, Emergency Ambulance Service, Disaster Relief and Response as well as Health and Community Services. Earlier, PDB also contributed proceeds from its Power of Seven Virtual Run to aid MRCS Mobile Vaccination Programme in the purchase of medical supplies for the programme.
PDB has declared an interim dividend of 20 sen per ordinary share for the quarter ended 30 September 2021.