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This article first appeared in The Edge Financial Daily on May 24, 2018

KUALA LUMPUR: MBM Resources Bhd’s (MBMR) net profit jumped 68.9% to RM32.82 million in the first quarter ended March 31, 2018 (1QFY18) from RM19.43 million a year ago, due to improved sales from the motor trading and automotive parts manufacturing divisions, as well as higher profits from the associates and joint venture (JV) entity.

As a result, earnings per share came in higher at 8.4 sen compared with 4.97 sen a year ago. Quarterly revenue also grew 10.9% to RM463.46 million from RM418.07 million.

In a bourse filing, MBMR said the improved quarterly performance in the motor trading segment was principally driven by higher sales volume from most of the brands within the group, especially the Perodua models registering impressive sales volume during the current quarter under review, aided by strong demand for the new Myvi.

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