Petronas Dagangan 2Q net profit at RM3.51m

Petronas Dagangan said its retail segment revenue decreased by RM2.04bil mainly due to lower sales volume of 32% in tandem with low demand due to the implementation of the Movement Control Order (MCO) as well as lower average selling prices by 30%.

KUALA LUMPUR: Petronas Dagangan Bhd posted lower net profit of RM3.51mil on revenue of RM2.93bil in the second quarter ended June 30,2020 due to a decline in the retail and commercial segments.

It said on Tuesday the 2Q weaker financial performance was in stark contrast with net profit of RM172.75mil on revenue of RM7.60bil a year ago. Earnings per share were 0.4 sen compared with 17.40 sen a year ago. It declared an interim dividend of five sen a share compared with 14 sen last year.