For 1Q20, the group’s net profit dipped 16% quarter-on-quarter and recorded marginal growth year-on-year mainly due to compressed gross profit margin from the domestic operations following the Mazda CX-5 run-out promotion where more sales incentives were given to speed up the sale of the model as the upcoming launch date of the facelift model draws closer.
PETALING JAYA: Mazda marque distributor, Bermaz Auto Bhd
’s net profit of RM50.52mil for first quarter ended July 31 (1Q20) came in within Kenanga Research’s expectations at 23%, but below consensus at 20% of full-year estimate.
The research house said that its first interim dividend per share of 3.25 sen for the quarter compared with 2.50 sen a year ago was also within its expectations.
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