Wednesday July 11, 2007

Petronas Dagangan capex at RM500mil

KUALA LUMPUR: Petronas Dagangan Bhd plans to spend about RM500mil on capital expenditure this year, including the building of 70 more new petrol stations, according to chairman Datuk Anuar Ahmad yesterday.

The company has more than 800 petrol stations nationwide.

Anuar said the company would continue with its aggressive network expansion to increase its market share and make its retail business a major contributor to revenue and profit.

“We would like to see more growth in retail business.

Datuk Anuar Ahmad
“We hope to see 60:40 contribution from our retail and commercial businesses moving forward,” he told reporters after the company's annual general meeting yesterday.

For the financial year ended March 31, 2007, the company achieved its best ever financial performance with a record revenue of RM19.5bil from RM16.57bil previously amidst intense competition.

Its pre-tax profit increased to RM903mil from RM725mil while net profit grew by 26% to RM647mil, another new achievement. – Bernama

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