KUALA LUMPUR: Bermaz Auto Bhd (BAuto), which posted a 17.7% jump in net profit to RM78.7mil in the fourth quarter ended April 30 (4Q), has declared a 4.5 sen dividend.
The board has approved and declared a fourth interim dividend of 2.00 sen single-tier dividend per share and a special dividend of 2.50 sen single-tier dividend per share in respect of the financial year ended April 30 April, 2022 (FY22) to be payable on Aug 4, 2022.
The entitlement date has been fixed on July 15.
“This will bring the total dividend declared for the FY22 to 8.75 sen single-tier dividend per share,” it said in a statement.
Its revenue in 4Q surged 40% to RM897.4mil from RM641.2mil in the same quarter last year.
The higher revenue is mainly due to the higher overall sales volume from the group’s Mazda, Peugeot and Kia operations as consumers rushed to register vehicles before the expiration of the sales tax exemption incentives in June 2022.
For FY22, Bauto posted a net profit of RM155.72mil, up 16.3% from RM133.84mil while revenue grew 1.6% to RM2.32bil against RM2.28bil.
BAuto said the current ongoing shortage of chips and components and shipment delays and the continued lockdowns in China due to the Covid-19 pandemic will continue to pose challenges for the automotive sector and will impact the recovery of vehicle sales.
“Although the current sales tax exemption incentives had kept vehicle prices relatively low in a period of rising input costs, it may however not be sufficient to boost sales as most automotive players are facing difficulties in fulfilling backorders due to the ongoing shortage of chips and components.
“Premised on the foregoing, the Board takes cognizance of the prevailing economic conditions and remains cautious on the performance of the group and the automotive sector for FY23,” it added.