Proton posts RM84m pre-tax profit for Q3
According to Proton, the company achieved a pre-tax profit of RM248million for the first nine months ending in December 31 as compared to RM54.363 million for 2008 despite drops in domestic TIV (total industry volume) and the challenging economic climate.
Nadzmi said "The improvement in performance was derived largely from domestic sales volume growth and better profit margins on the strength of sales of the Exora, Persona and Saga models, However, a decline in domestic sales volume coupled with higher promotional costs required to drive sales towards the calender year end, affected the company's pre-tax profit of RM83 million for the third quarter. The improvement in overall performance to date is the result of cumulative initiatives launched over the last four years, particularly in the enhancement of product portfolio, cost management and strengthening of the automotive ecosystem.”
The company’s domestic market share too was expanded to 28% from 26% previously since the launch of the new models like the Persona, Saga and the new MPV, Exora. For 2010, Nadzmi said “Signs of the global economic and financial recovery are being considered cautiously, as the company pushes ahead with plans to realise further operational efficiency. With the Malaysian Automotive Association projecting the TIV to grow by a further 2.4 per cent to 550,000 vehicles in 2010, we are optimistic that our offering of products would be well positioned to take advantage of growing demand,"
He added that overseas market have been quite receptive and encouraging for the Exora, Persona and Saga models and that the company would be intensifying its efforts to look into the best market to position its brands.