Bermaz Auto rises 7.59% on posting record 3Q earnings

-A +A

KUALA LUMPUR (March 14): Bermaz Auto Bhd (BAuto) shares rose 7.59% after it registered a record net profit of RM81.01 million for the third quarter ended Jan 31, 2019 on the back of higher revenue from domestic operations and higher share of profit contribution from its associate company Mazda Malaysia Sdn Bhd (MMSB).

At 9.17am, Bauto rose 17 sen to RM2.41 with 1.81 million shares traded.

The higher share of profit contribution from MMSB was mainly attributed to an increase in production volume for the new CX-5 model to cater for both the domestic and export markets.

Group net profit doubled from RM40.47 million in 3QFY18, while

revenue rose 39.1% to a record RM778.13 million. The improved revenue was due strong domestic demand for Mazda vehicles, particularly the SUV models.