Higher expenses hit Petronas Dagangan Q4 earnings

PETALING JAYA: Petronas Dagangan Bhd’s net profit for its fourth quarter ended Dec 31, 2013 slipped 14% to RM151.32mil from RM176.50mil a year earlier mainly due to higher operating expenditure.

Revenue, however, increased to RM8.39bil from RM7.69bil in the previous corresponding period, as a result of an increase in the average selling price by 6.1% and an increase in sales volume by 2.8%, the company told Bursa Malaysia yesterday.