BAuto on track to achieve FY24 sales target

Maybank IB Research said it anticipates a softer second half due to normalised vehicle sales in Malaysia.

PETALING JAYA: Analysts are upbeat about Bermaz Auto Bhd’s (BAuto) prospects, which is on track to achieve its sales target for financial year 2024 (FY24).

The group’s core net profit for the first half of FY24 surged 64% year-on-year (y-o-y), despite the end of sales and service tax holiday in March 2023 that beats most analysts and market concensus expectations.