KUALA LUMPUR:DRB-HICOM Bhd records a pre-tax loss of RM121.33 million for the first quarter (Q1) emded June 30, 2016 compared to a pre-tax profit of RM16.67 million in the same quarter last year.
Revenue fell to RM2.50 billion from RM2.95 billion previously, it said in a filing to Bursa Malaysia today. In a statement today, DRB-HICOM said the weaker results were mainly attributed to lower sales of motor vehicles by the group’s car companies, reflecting the decline of total industry volume by 6.3 per cent during the April-June 2016 as compared to the corresponding period in 2015.
“In view of the slower overall economic growth and competitive market conditions, the group will remain focused on its business consolidation to ensure continuous growth and sustainability of the businesses,” it said. It said the recent launches of the new Perdana and popular Persona models were expected to improve the growth of group’s car sector.
