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Bermaz Auto H1 results beat forecast, says CIMB Research


  • Auto
  • Thursday, 13 Dec 2018

Bermaz Auto is targeting 18,500 units from Malaysia and the Philippines in FY19F, which implies a softer 2HFY19 in view of the competitive market and cautious consumer sentiment due to uncertainties over the domestic and global economies.

Bermaz Auto is targeting 18,500 units from Malaysia and the Philippines in FY19F, which implies a softer 2HFY19 in view of the competitive market and cautious consumer sentiment due to uncertainties over the domestic and global economies.

KUALA LUMPUR: Bermaz Auto results for the first of its financial year 2019 (1HFY19) Bermaz’s revenue grew by 36% on-year due to stronger sales in Malaysia (+67%), in spite of the weaker sales in the Philippines (-38%) due to the implementation of the Tax Reform for Acceleration and Inclusion law in January 2018. 

The CIMB Equities Research said on Thursday Bermaz benefited from higher associates’ profit contribution on the back of higher sales volume by Mazda Malaysia Sdn Bhd (MMSB), which rose by 188% on-year.

Auto , Analyst Reports

   

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