Record profit for Petronas Dagangan in 34 years

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KUALA LUMPUR — April 19, 2017: Petronas Dagangan Berhad ended 2016 with a record profit before tax of RM1,212.3 million, an increase of RM129.9 million compared to the corresponding year.

The company’s network of stations continues to be the largest in the country, with more than 1,000 stations. PDB also expanded the availability of its Primax 97 and Dynamic Diesel Euro 5 at its stations.

Managing Director and Chief Executive Officer, Mohd. Ibrahimnuddin Mohd. Yunus, said that despite slower domestic demand growth and dampened consumer sentiment, the company remained resilient.

As part of its commitment to deliver superior customer experience, PDB commenced upgrading the dispensers at its stations for greater convenience and faster refueling speed.

It also introduced its new-concept Mesra Store at its stations, with a contemporary design resulting in a unique experience through customised offerings.

Another move was to partner Malaysian Green Technology Corporation to install ChargEV terminal at the stations in anticipation of the growing number of electric vehicles.

PDB’s lubricant business, Petronas Lubricants Marketing (Malaysia) Sdn. Bhd. (PLMMSB), recorded a 20 per cent margin improvement for last year.

The LPG business sustained its position as Malaysia’s No. 1 cooking gas, achieving an improvement of 19 per cent gross margin compared to the preceding year. The significant increase was attributed to initiatives in pursuing value-driven sales and unlocking value through cost optimisation and improving efficiency across its distribution network.

Ibrahimnuddin said that the company will focus on increasing volume and profitability from existing stations, while expanding the availability of Primax 97 and Dynamic Diesel Euro 5. — Bernama





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News sourced from Bernama, Reuters, AFP and other accredited news agencies, including credible blogsites and news portals.