KUALA LUMPUR: Bermaz Auto Bhd posted 14.78 per cent increase in net profit to RM351.04 million for the year ended April 30, 2024 from RM305.84 million a year ago on the back of higher revenue.
Its revenue rose 11 per cent to RM3.93 billion from RM3.54 billion the previous year.
This was due to higher sales volume from its Mazda marque domestic operations, especially from its Mazda CX-30 CKD model which had continued to register high sales volume since its launch in March 2023.
For the fourth quarter, the company posted a lower net profit of RM90.22 million compared to RM100.62 million in the same period last year.
Revenue for the quarter dropped 12.6 per cent to RM937.53 million from RM1.07 billion in Q4FY23 mainly due to lower sales volume from its Mazda and Kia marque domestic operations.
Higher revenue in the preceding year's corresponding quarter was mainly due to the final rush by consumers to register their vehicles by March 31last year to be eligible for the sales tax exemption incentives.
The company said the automotive sector is expected to continue to register growth albeit at a slower pace.
This is due to factors such as inflationary pressures, uncertainties in geopolitical conflicts and weaker global growth, which will have an adverse impact on the overall local economy.
"The current influx of vehicles from China had also impacted the sales of vehicles in the country.
"The launching of new and/or new facelifts models of the Group's existing and new vehicle marques are still very much dependent on the market sentiments and economic conditions then.
"Premised on the above, the board anticipates the performance of the group to be challenging for the financial year ending April 30, 2025," it said in a statement.
The company approved and declared a fourth interim dividend of 4.75 sen single-tier dividend per share and a special dividend of 7.00 sen single-tier dividend per share to be paid on Aug 2.