1. Homepage
  2. Equities
  3. Malaysia
  4. BURSA MALAYSIA
  5. PETRONAS Dagangan Berhad
  6. News
  7. Summary
    PETDAG   MYL5681OO001

PETRONAS DAGANGAN BERHAD

(PETDAG)
  Report
End-of-day quote BURSA MALAYSIA  -  05-26
21.00 MYR   -0.57%
05/27Petronas Dagangan Trims Dividend as Profit Slumps in Q1
MT
05/26Petronas Dagangan Berhad Declares Interim Dividend for Quarter Ended 31 March 2022, Payment Date Is 24 June 2022
CI
05/26PETRONAS Dagangan Berhad Reports Earnings Results for the First Quarter Ended March 31, 2022
CI
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

Petronas Dagangan : Berhad Records Stronger Profit In Q1 FY2021 As Oil Prices Improve

05/31/2021 | 11:40pm EDT
Kuala Lumpur, 25 May 2021 - For the quarter that ended 31 March 2021 (Q1FY2021), PETRONAS Dagangan Berhad (PDB) recorded a stronger profit against both corresponding and preceding quarter last year, as a result of higher gross profit attributed to improved Means of Platts Singapore (MOPS) prices.

For Q1FY2021, PDB has registered a Profit Before Tax (PBT) of RM285.5 million as compared to a Loss Before Tax of RM18.4 million in Q1FY2020 and a PBT of RM115.4 in Q4FY2020.

Revenue for the quarter was RM5.103 billion, 22 per cent lower than the corresponding quarter due to lower volume impacted by the prolonged pandemic crisis coupled with the re-implementation of Movement Control Order (MCO).

Against Q4FY2020, however, the Company's Q1FY2021 revenue represents a 16 per cent increase.

Commenting on the Company's performance, PDB Managing Director and Chief Executive Officer Azrul Osman Rani said, 'The ongoing pandemic continues to pose challenges to our operations. Nevertheless, we see improvement quarter-on-quarter but we are cautious of the outlook, especially with MCO now being re-implemented nationwide.'

'PDB has embarked on our future-proof strategy to remain profitable. Our growth strategies revolve around us digitalising our operations and diversifying our product portfolios to meet customers' changing needs, whilst leveraging our superior fuel products and non-fuel offerings. These future-proof efforts have supported PDB's performance thus far, and we will continue to be innovative in diversifying our revenue streams,' he added.

The Retail business is accelerating its non-fuel segment via the expansion of Makan@Mesra outlets in Kedai Mesra. It will continue to invest in upgrading its petrol stations and enhancing its products and services to drive more footfall into the stations. In line with this, it has also recently revamped its Mesra loyalty programme to offer a more attractive point-tiering system and integrated it with the Setel app for a more seamless experience. A nationwide contest offering highly attractive main prizes including a condominium unit (sponsored by UEM Sunrise Berhad) and a Mercedes car, has also been rolled out to encourage more motorists to experience the power of its best fuel, the PETRONAS Primax 97 with Pro-Race.

Since the launch of the new fuel in December, the business has seen about 6% growth in its RON97 mogas segment in Q1FY2021 as compared to the corresponding quarter last year. This is despite lower demand for Mogas during the quarter due to travel restrictions as compared to the year before. This is a testament to the quality of PETRONAS Primax 97 with Pro-Race in line with customers' positive feedback.

The Commercial and LPG businesses have put in place effective growth strategies, whilst continuing to enhance customer experience. The Lubricant business is focused on delivering value and a differentiated customer experience in the current challenging market including leveraging its network of PETRONAS AutoExpert workshops amongst others.

'While the Dated Brent's upward trend in the first quarter of 2021 coupled with the roll-out of vaccination programmes offer a positive outlook for business recovery, we will remain cautious with our spending. We will invest strategically and prioritise key growth areas that are aligned with our future-proofing strategy,' Azrul concluded.

PDB has declared an interim dividend of 14 sen per ordinary share for the quarter ended 31 March 2021.

Disclaimer

Petronas Dagangan Bhd published this content on 01 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 June 2021 03:39:03 UTC.


© Publicnow 2021
All news about PETRONAS DAGANGAN BERHAD
05/27Petronas Dagangan Trims Dividend as Profit Slumps in Q1
MT
05/26Petronas Dagangan Berhad Declares Interim Dividend for Quarter Ended 31 March 2022, Pay..
CI
05/26PETRONAS Dagangan Berhad Reports Earnings Results for the First Quarter Ended March 31,..
CI
05/26Petronas Dagangan Berhad Announces Appointment of Tunku Alizakri Bin Raja Muhammad Alia..
CI
05/26Petronas Dagangan Berhad Announces Appointment of Sazali Bin Hamzah as Non Independent ..
CI
05/26Petronas Dagangan Berhad Announces Appointment of Ym Tunku Alizakri Bin Raja Muhammad A..
CI
05/26Petronas Dagangan Berhad Announces Appointment of Encik Mohd Yuzaidi Bin Mohd Yusoff as..
CI
05/26Petronas Dagangan Berhad Announces Appointment of Datuk Sazali Bin Hamzah as Independen..
CI
05/26Petronas Dagangan Berhad Announces Appointment of Encik Mohd Yuzaidi Bin Mohd Yusoff as..
CI
05/26Petronas Dagangan Berhad Announces Resignation of Encik Ahmad Adly Bin Alias as Indepen..
CI
More news
Financials
Sales 2022 27 967 M 6 386 M 6 386 M
Net income 2022 650 M 148 M 148 M
Net cash 2022 2 549 M 582 M 582 M
P/E ratio 2022 32,1x
Yield 2022 2,90%
Capitalization 20 863 M 4 764 M 4 764 M
EV / Sales 2022 0,65x
EV / Sales 2023 0,64x
Nbr of Employees 1 416
Free-Float 13,3%
Chart PETRONAS DAGANGAN BERHAD
Duration : Period :
PETRONAS Dagangan Berhad Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PETRONAS DAGANGAN BERHAD
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 21,00 MYR
Average target price 20,60 MYR
Spread / Average Target -1,92%
EPS Revisions
Managers and Directors
Azrul bin Osman Rani Chief Executive Officer, Director & MD
Farzlina Ahmad Murad Chief Financial Officer
Anuar bin Ahmad Chairman
Mohamad Imran M. Ashraf Head-Technical Services Division
Koh Tat Chong Chief Technology Officer