PETRONAS Dagangan Berhad announced a record quarterly sales volume of 4.18 billion litres for the quarter ended 30 September 2023 (Q3 FY2023), demonstrating its ability to weather challenging market conditions.
This growth is attributed to PETRONAS Dagangan’s strategic efforts to boost sales volume, driven by increased international and domestic travel during public holidays and improved domestic household spending throughout Q3 FY2023. Both the Commercial and Retail segments played pivotal roles in driving this success, underscoring PETRONAS Dagangan’s unwavering commitment to meeting the diverse needs of its customer base. However, unfavourable market price movements impacted the Company’s profitability, resulting in a decline of 34 per cent and 30 per cent in pre-tax profit compared to the corresponding and preceding quarters, respectively. Amid these challenges, PETRONAS Dagangan achieved a notable 17 per cent increase in pre-tax profit for the year to date, reaching RM1.05 billion.
PETRONAS Dagangan Managing Director and Chief Executive Officer Azrul Osman Rani said, “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.”
PETRONAS Dagangan’s convenience segment is making progress in enhancing customer experience and expanding its footprint through a combination of digital payment innovations and store expansion. The integration of DuitNow QR into the Setel app has enabled cashless transaction at over 1.6 million retail outlets nationwide, demonstrating Setel’s commitment to continuously enhance customers’ convenience whilst making the app more inclusive to a wider customer base across their retail purchase and other needs. Setel’s participation as one of the e-Wallet providers in the eBeliaRahmah and the upcoming eMadani Government initiatives further supports advancing a cashless society for youth and customers alike, in tandem with its overarching mission to foster inclusive mobility. Meanwhile, Café Mesra continues to expand with the deployment of its trailers in various locations and establishing pop-up cafés across Malaysia, while Kedai Mesra has consistently enhanced its convenience through a diversified product range and optimised its in-store merchandise strategies.
In line with its sustainability aspiration, PETRONAS Dagangan continued to implement various initiatives across its operations. In July 2023, the Company launched a pilot initiative to collect used cooking oil (UCO) as a feedstock for sustainable aviation fuel (SAF) at three PETRONAS stations in Klang Valley. Following a positive response, the initiative has now been expanded to 33 stations nationwide and collected over 90,000 kilograms of UCO to date.
“The promising results not only highlight public’s support towards our used cooking oil collection initiative, but also their willingness to contribute to a better future through recycling. We encourage everyone to join us in this endeavour by properly disposing of their used cooking oil at our participating PETRONAS stations. Together, we can help make a difference to promote better recycling practices and reduce waste,” Azrul concluded.
PETRONAS Dagangan has declared an interim dividend of 20 sen per ordinary share for the quarter ended 30 September 2023.
