New: PETRONAS Dagangan Records Q3 2023 High Sales Volume

PETRONAS Dagangan Records Q3 2023 High Sales Volume

PETRONAS Dagangan reported a record quarterly sales volume of 4.18 billion liters for Q3 FY2023, showcasing resilience amid challenging market conditions.

The growth is attributed to strategic efforts, boosting sales through increased international and domestic travel during public holidays and improved household spending.

Despite facing a decline in pre-tax profit due to unfavorable market price movements, the company achieved a notable 17% increase in pre-tax profit for the year to date, reaching RM1.05 billion. It emphasizes its commitment to delivering results and adding value, focusing on enhancing customer experience and expanding its footprint in the convenience segment.

PETRONAS Dagangan and sustainability

For sustainability, the company launched a pilot initiative to collect used cooking oil for sustainable aviation fuel, which has now expanded to 33 stations nationwide, collecting over 90,000 kilograms of used cooking oil to date.

The company encourages public participation in recycling practices to contribute to a better future. The company has declared an interim dividend of 20 sen per ordinary share for the quarter ended 30 September 2023.

PETRONAS Dagangan Managing Director and Chief Executive Officer Azrul Osman Rani says, “Despite the unfavourable market price movements impacting Commercial segment, PETRONAS Dagangan remains committed to delivering results and adding value.

“Our strategic approach this quarter has enabled us to effectively navigate through these challenges that led to our quarterly record sales volume. This accomplishment reflects not just resilience but a deliberate, market-responsive strategy, showcasing our ability to turn challenges into opportunities.”