Bermaz Auto Profits Reach RM133.9 Million In FY21, Higher Than Last Year!

Bermaz Auto Bhd (BAuto) showed a commendable financial performance for the year that ended on April 30, 2021. The financial report shows an increase in net profit from RM100.84 million in 2020 to RM133.94 million for this year.

In a statement given to Bursa Malaysia, the company revealed an increase in profit from RM1.76 billion last year to RM2.29 billion. This achievement resulted from high sales quantities in the domestic market, and was partially offset by lower sales quantities in the Philippine market.

“The higher domestic sales volume for the financial year was due to increased sales in the second to fourth quarters following the positive impact of the introduction of economic stimulus packages under the National Economic Regeneration Plan (Penjana), as well as aggressive promotional campaigns introduced by the group,” said BAuto.

Net profit for the fourth quarter increased from RM2.46 million in the fourth quarter of 2020 to RM66.83 million this year, as well as revenue increased from RM299.36 million in the same period last year to RM641.2 million.

Also announced are a fourth interim dividend of 1.50 sen one-tier dividend per share and a special dividend of 1.75 sen one-tier dividend per share for 2021.

For future prospects, BAuto said that its recent ventures in the sale of Peugeot and Kia car brands as well as the re-retail of automotive parts are still in its infancy, so the company is not setting high targets for the 2022 financial year. 

“The unpredictable course of the COVID-19 pandemic globally and domestically continues to be an important issue that will impact overall economic growth.

"The slower-than-expected vaccination and detection of new strains of COVID-19 virus have also resulted in consumers being more cautious," he added.

Commenting further on the matter, BAuto said that government incentives such as sales tax exemption until December 31, 2021, for purchasing vehicles under the PEMERKASA Plus economic stimulus package have opened up vast opportunities for the automotive industry.