KUALA LUMPUR (Nov 26): Petronas Dagangan Bhd (PetDag)’s net profit fell 43.90% to RM119.31 million in the third quarter ended Sept 30, 2021, from RM212.66 million a year earlier, due partly to lower sales volume. Earnings per share fell to 12.00 sen from 21.40 sen.

Revenue rose 7.66% to RM5.20 billion, from RM4.83 billion in the same quarter last year, on higher revenue contribution from its commercial segments, the group said in a filing with Bursa Malaysia.

On a quarter-on-quarter basis, the group’s net profit was higher than the RM82.14 million registered in the immediate preceding quarter, while revenue increased from RM5.14 billion.

PetDag has declared an interim dividend of 20 sen per share, to be paid on Dec 24.

For the cumulative nine months ended Sept 30, 2021, the group’s net profit surged 110.21% to RM392.56 million, from RM186.75 million in the same period last year, while revenue increased 7.91% to RM15.45 billion, from RM14.32 billion.

Moving forward, the group said for its retail segment, the lifting of interdistrict travels, especially in major economic hubs such as the Klang Valley, and reopening of more economic sectors, are expected to have a positive impact on the product demand, as more cars would be on the road, increasing visits to its petrol stations and Kedai Mesra.  

“The retail segment will continue to expand its food-on-the-go (ready-to-eat) solutions corner and Segar@Mesra, which offers fresh products at affordable prices.

“It will also leverage its digital initiatives to offer customers a more seamless experience via the integration of its Mesra loyalty programme with the Setel mobile app,” the group said.

For its commercial segment, PetDag said the commercial business will continue to provide a superior value proposition to its customers, through comprehensive product and service offerings, to retain and capture new markets.

“With the gradual reopening of international borders beginning Oct 11,2021, international air travels are geared for recovery.

“In the meantime, commercial business will continue to leverage on the domestic air travel and cargo flights requirements, as well as to optimise its operating cost effectively,” it said.

PetDag's share price ended unchanged at RM19.90 on Friday (Nov 26), valuing the group at RM19.77 billion.