DRB-Hicom maintains positive outlook for FY24

The group posted a higher revenue of RM4.33bil for the first quarter compared to RM4.10bil a year earlier.

PETALING JAYA: Despite numerous challenges in the economy, DRB-Hicom Bhd maintains a satisfactory outlook for its financial year ending Dec 31, 2024 and will continue with its strategic plans moving forward.

In a filing with Bursa Malaysia, the automotive manufacturer said it expanded its research and development capabilities by furthering its collaboration with Zhejiang Geely Holding Ltd.

The group added that Honda Malaysia will target sales of 95,000 units this year.

This is an increase from 80,027 units in 2023.

In its banking sector, the group said it will continue to progress in its digital transformation while enhancing customer experience.

For the first quarter ended March 31, 2024, the group posted a higher revenue of RM4.33bil compared to RM4.10bil in the same quarter last year on the back of higher sales volume, as well as better profit from the property and banking sector.

Its profit, however, came in lower at RM91.5mil compared to RM107.9mil for the same quarter last year.

The group did not declare any dividend for the financial period under review.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!

DRBHicom , autos , Geely , Honda , digitalbanking , property , revenueup


Next In Business News

Oil eases on strong dollar, global economic news
Asia ESG Positive Impact Consortium pledges sustainability
UMW realigns strategies to promote growth
Nvidia’s gains leave investors wondering – to cash in or buy more?
Malaysia’s competitiveness set to improve further
Genting’s plans for diversification continue to gather momentum
Winning the digital game
IJM Corp secures two construction contracts worth RM962.3mil
KAB rides data centre wave

Others Also Read