KUALA LUMPUR, Nov 26 (Bernama) -- PETRONAS Dagangan Berhad (PETRONAS Dagangan) announced its financial results for the third quarter of 2024 (Q3 FY2024), achieving a significant increase in pre-tax profit compared to the same quarter last year.
 
For the quarter ended 30 September 2024, PETRONAS Dagangan recorded a total sales volume of 4.3 billion litres, a two per cent increase compared to the corresponding period in 2023 (Q3 FY2023). This growth was largely attributed to higher demand in Retail Mogas and the aviation sector, boosted by an uptick in passenger movements domestically and internationally. 
 
Pre-tax profit surged to RM445.9 million, reflecting a significant 70 per cent increase from the same period last year. This robust performance was fuelled by strong margins on the back of favourable price trends and lower product costs across both Retail and Commercial segments.
 
For the nine months ended 30 September 2024, PETRONAS Dagangan’s year-on-year revenue reached RM29.0 billion, a five per cent increase compared to the same period in 2023, bolstered by a four per cent increase in sales volume and higher average selling prices. Cumulatively, the Company’s pre-tax profit climbed by 12 per cent to RM1.2 billion, supported by higher gross profit from all segments.
 
PETRONAS Dagangan Managing Director and Chief Executive Officer Azrul Osman Rani said, “This quarter’s performance reflects our strategic focus on operational efficiency and targeted growth across our business segments. The strong profitability underscores the trust our customers place in us, the strength of our operations and our commitment to excellence across all touchpoints. As we approach the year-end, these efforts enhance our resilience and the value we provide to customers.”
 
Supported by strong domestic consumption and recovery in trade activities, Malaysia’s economy is expected to remain resilient with the Gross Domestic Product (GDP) projected to grow between 4.8 and 5.3 per cent in 2024. This favourable economic backdrop supports PETRONAS Dagangan’s outlook for steady performance across all business segments through year-end. As the Company continues to strengthen its core business and expand non-fuel offerings, it is also leveraging Setel to enhance customer experience, while also focusing on expanding Mesra’s product offerings, to cater to evolving customer needs.
 
“While we focus on closing the year strongly, our commitment remains on achieving continuous growth and creating value for our stakeholders as well as ensuring our commitment to making life simpler and better for our customers,” added Azrul.
 
PETRONAS Dagangan has declared an interim dividend of 24 sen per ordinary share for the quarter ended 30 September 2024.
 
 
ABOUT PETRONAS DAGANGAN BERHAD
 
PETRONAS Dagangan Berhad is the principal domestic marketing arm of Petroliam Nasional Berhad (PETRONAS), which holds 63.94 per cent of its equity. Incorporated in Malaysia under the Companies Act 1965 on 5 August 1982 and listed on the Main Board of Bursa Malaysia on 8 March 1994, PETRONAS DAGANGAN has since established itself as Malaysia’s leading retailer and marketer of downstream oil and gas products. 
 
The Company markets a wide range of high-quality petroleum products including motor gasoline, aviation fuel, kerosene, diesel, fuel oil, bunker fuel, lubricants, liquefied natural gas (LNG) liquefied petroleum gas (LPG) and bitumen in Malaysia. 
 
As part of its strategy to grow its non-fuel offerings, the Company has incorporated Mesra Retail & Café Sdn Bhd in 2021, which focuses on food and beverage (F&B) business.
 
Since 2015, PETRONAS DAGANGAN has been certified as a constituent company member of FTSE4Good Index Series – a testament to the Company’s commitment to strong environmental, social and governance practices measured against globally recognised standards.
 

SOURCE : PETRONAS Dagangan Berhad

FOR MORE INFORMATION, PLEASE CONTACT: 
Name : Myra Liyana Razali
Tel : 03 – 2392 7252 | 012 – 689 0188
Email : myraliyana.razali@petronas.com.my 

--BERNAMA