Malaysia’s Proton Holdings reported a threefold increase in net profits to MYR61.6m (US$21.4m) for the quarter ended 31 March, compared with MYR2.64m a year earlier.
Net earnings for the full financial year fell by 30.5% to MYR152m, however, compared with MYR218.9m previously, due mainly to restructuring and branding costs at its UK sports car subsidiary Lotus Group.
Go deeper with GlobalData
Full-year revenues increased to MYR8.98bn, from MYR8.20bn in the previous year. Domestic sales increased 9.4% to 162,950 passenger vehicles, from 148,969 units, helped by strong demand for the Persona, Saga, Exora and Inspira models.
The company is stepping up its capital expenditure to help bring new products to the market, including a new Lotus model by 2013, according to Proton chairman Datuk Seri Mohd Nadzmi Mohamed Salleh.
The company is expected to have a replacement for the Campro engine range available by 2015 and the Persona model is scheduled to be replaced in March 2012.
Lotus confirms funding for new models
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
