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BAuto quarterly earnings triple on higher sales


  • Auto
  • Thursday, 13 Dec 2018

In a statement, BAuto said during the period in review, the group reported higher revenue mainly due to a surge in its sales volume from its domestic operations.  “This was a result of the reduction in the goods and services tax (GST) standard rate from 6% to 0% from June to August, and the group’s announcement to absorb the sales tax for bookings received before Sept 1, but with vehicle delivery after the introduction of the sales and service tax (SST), which boosted demand, especially for the new CX-5 model.." (Filepic shows launch of a Mazda car.)

In a statement, BAuto said during the period in review, the group reported higher revenue mainly due to a surge in its sales volume from its domestic operations. “This was a result of the reduction in the goods and services tax (GST) standard rate from 6% to 0% from June to August, and the group’s announcement to absorb the sales tax for bookings received before Sept 1, but with vehicle delivery after the introduction of the sales and service tax (SST), which boosted demand, especially for the new CX-5 model.." (Filepic shows launch of a Mazda car.)

PETALING JAYA: Bermaz Auto Bhd ’s (BAuto) earnings more than tripled in the second quarter ended Oct 31, as a result of higher sales during the tax-holiday period.

The group, which is the official distributor of Mazda vehicles and spare parts in Malaysia and the Philippines, saw its net profit rising to RM73.9mil in the quarter from RM22.2mil in the corresponding period last year.

   

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