KUALA LUMPUR, 21 Feb 2023 — DRB-Hicom Bhd returned to the black in the financial year ended Dec 31, 2022 (FY2022), posting a net profit of RM187.71 million compared with a net loss of RM296.42 million a year ago.
Revenue for FY2022 rose 25.3 per cent to RM15.51 billion from RM12.38 billion previously, the company said in a filing with Bursa Malaysia today.
DRB-Hicom said three sectors led the sterling revenue growth namely, automotive, aerospace and defence, as well as banking sectors.
“The rise in automotive demand driven by the government’s sales tax holiday boosted revenue for Proton and other marques under the DRB-HICOM umbrella, sending revenue rising more than 35.2 per cent,” it said in a separate statement filed with the exchange today.
The aerospace and defence sector recorded a 41 per cent increase in revenue due to higher deliveries of their products, while the aerospace unit benefitted from the global resumption of commercial flights following the COVID-19-enforced travel bans.
For the banking sector, the company said revenue grew 13.7 per cent in FY2022 compared with FY2021, mainly contributed by higher financing income and volume from the property and personal financing to customers.
On prospects, DRB-Hicom said its performance for the financial year ending Dec 31, 2023, is expected to remain positive.
— Akses Malaysia
