Petronas Dagangan Records Stronger Performance In FY2024, Declares 45 Sen Dividend

KUALA LUMPUR, Feb 20 (Bernama) -- Petronas Dagangan Bhd’s (PDB) net profit increased to RM1.09 billion in the financial year ended Dec 30, 2024 (FY2024), compared to RM943.08 million in the same period a year earlier.

In a filing with Bursa Malaysia today, PDB said the higher net profit recorded in the year was due to higher gross profit from all segments offset by an increase in expenditure. 

Revenue was higher in FY2024 at RM37.95 billion versus RM37.55 billion a year earlier, driven by 3.0 per cent sales volume growth, despite a 2.0 per cent decrease in average selling prices. 

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PDB has declared an interim dividend of 25 sen per ordinary share and a special dividend of 20 sen per ordinary share for the quarter ended Dec 31, 2024. 

In a separate statement, Petronas Dagangan said that for the 12-month period, it achieved an all-time high annual sales volume of 16.8 billion litres. 

“This year’s performance reaffirms the strength of our strategy execution. Despite a challenging environment, our ability to deliver sustained profitability reflects the robustness of our business model, the trust of our customers and a disciplined approach in navigating market shifts," said managing director and chief executive officer Azrul Osman Rani. 

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Looking ahead, the firm anticipated steady private consumption, accelerated implementation of national development plans, and a more stable operating environment in 2025. 

However, it said global trade uncertainties and moderating oil prices could influence market conditions.

Against this backdrop, it remained committed to strengthening its core and convenience segments by leveraging strategic initiatives and capitalising on market opportunities. 

“With the right fundamentals in place, we are ready to navigate challenges and drive the next phase of growth,” Azrul said.

-- BERNAMA