KUALA LUMPUR, Aug 7 — Petronas Dagangan Bhd’s pre-tax profit fell to RM250.787 million for the second quarter ended June 30, 2014 from RM273.041 million registered in the corresponding period last year.
The revenue, however, rose to RM8.368 billion from RM7.924 billion.
In a filing to Bursa Malaysia today, the company attributed the rise in the revenue to an increase in average selling price by nine per cent despite a decrease in sales volume by three per cent.
Managing director and chief executive officer Mohd Ibrahimnuddin Mohd Yunus said it had been a challenging year thus far with increased competition and volatile market conditions.
“However, we remain committed to grow our business by taking a longer term perspective and investing in strengthening our four core businesses.
“Recognising rising costs and tougher market, we have ensured that our operating expenses were at an optimum level to remain competitive,” he said in a statement today.
On prospects, he said the company expected the second half of the year to continue to be challenging, especially in anticipation fuel subsidy rationalisation. — Bernama