Proton Holdings reported a fourth consecutive quarter of profits in the three months to 30 June as domestic demand for new models continued to soar.
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Net earnings were MYR52.03m ($US15.3m), compared with a net loss of MYR46.75m a year earlier. Pre-tax profit reached MYR58.7m compared with a pre-tax loss of MYR46.8m.
Revenues rose sharply during the quarter, to MYR1.7bn compared with MYR1.14bn a year earlier, thanks to strong sales of the Persona and Saga – two subcompact models launched in the last year. Overall sales volumes rose to 39,888 units, compared with 28,145 units a year earlier.
Chairman Datuk Mohammed Azlan Hashim expects the company to continue this performance for the remainder of the year – “barring any unforeseen circumstances”.
The country’s first national car company aims to recapture its lead position in its domestic market, which it lost to Perodua in the last two years.
There is a long waiting list for the popular Saga and Persona and efforts are being made to increase capacity to meet demand.
There is also growing overseas demand for these models, especially from Iran and China.
Domestic sales are expected to exceed 140,000 units this year, according to the company, from 118,000 in 2007.
Tony Pugliese
