KUALA LUMPUR (Feb 25): Petron Malaysia Refining and Marketing Bhd posted a net profit of RM17.13 in the fourth quarter ended Dec 31, 2015 (4QFY15), from a net loss of RM47.07 million a year earlier. Net profit rose as the firm made a gross profit on lower cost of sales, amid cheaper crude oil.

Petron said in a filing with Bursa Malaysia today that revenue, however, came in lower at RM1.88 billion against RM2.29 billion, on lower price and sales volume of its products.

For the full year (FY15), Petron said it made a net profit of RM221.48 million, from a net loss of RM63.97 million a year earlier. Revenue was down at RM8.15 billion, compared to RM10.9 billion.

Petron plans to pay a dividend of 20 sen a share for the quater under review. The company said it would seek shareholders’ approval for the dividend.

In a separate statement, Petron chairman Ramon S. Ang said the company planned to provide consistent and stable returns to its shareholders.

Ang said the company would build on the momentum from FY15, and was optimistic of its prospects for the current FY16.

“We bucked the trend last year and the success of our programmes was translated to a strong financial and operating performance. We are right where we want to be, as we continued growing our business profitably and sustainably."

At 5pm, Petron shares closed unchanged at RM6.98, for a market capitalisation of RM1.88 billion. The stock saw 202,500 shares done.