Malaysia: Petronas Posts Higher Profit
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Wednesday, 28 May 2008 |
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Petronas Dagangan Bhd recorded a higher pre-tax profit of
RM908.4m for the financial year ended March 31 compared with
RM903.2mil the previous year.
In a filing with Bursa Malaysia,
the company attributed the improved performance to higher gross profit
and higher volume and average selling prices for its products sold
during the year.
Its revenue increased to RM22.3bil from
RM19.5bil previously. For the fourth quarter ended March 31, the
company posted a lower pre-tax profit of RM219.5mil from RM235.7mil in
the previous corresponding period.
This was mainly due to lower gross profit arising from higher product cost, it said.
Its revenue for the quarter rose by 6% to RM6.05bil from RM5.71bil in the preceding quarter, mainly driven by higher volume.
The
company expected revenue to remain high but added that profits for the
current financial year would continue to be impacted by fluctuations in
petroleum products costs as a consequence of volatile international
crude oil price.
PetrolWorld 270508
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