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Proton Records Positive Financial Results Despite Global Financial Worries

January 7th, 2010

Proton Holdings Berhad has continued to register a positive financial performance despite the affects of the Global Financial Crisis posting a consolidated profit before tax of approximately $AUD 55 million (RM165 million) for the first six months of the Malaysian financial year up to September 30 (FY2009/10).

Proton registered a profit before tax of approximately $AUD 33 million (RM101 million) for the second quarter, a significant 58 percent improvement compared to the profit before tax of approximately $AUD 21million (RM64 million) for the preceding quarter.

Proton Holdings Berhad Chairman Dato' Mohd. Nadzmi Salleh said the improvement on operating profit was largely due to the increase in domestic sales volume and profit margins which has continued to strengthen through a better product mix.

"Proton's domestic sales volume grew by 11percent compared to the immediate preceding quarter and this was primarily driven by the increase in the sales of our top three models, the Persona, Saga (S16) and Exora people mover," he said.

The half year profit before tax reflects a 43 percent increase compared to the same period of the last financial year where it registered a profit before tax of $AUD 38 million (RM115 million).

Within the same six-month period, Proton registered total sales of 79,508 units of vehicles which accounts for 29 percent of the Malaysian domestic total industry volume.

Arising from this, the Group's total revenue grew by 11percent in the six-month period compared to the same period last year.

Despite a contraction in the Malaysian domestic market volume of seven percent as a result of the global economic downturn, Proton's domestic market increased by three percent over the same period last year.

The sales of the Exora 7-seater multi-purpose vehicle (MPV), launched in April this year, had substantially contributed to this positive result.

"The Exora has continued to prove itself as a successful model contributing positively to the Group's results and we are extremely happy that it has been well accepted in the market," said Dato' Mohd. Nadzmi,

"It has had a very positive impact on the results of the company and this displays our determination and seriousness for improvement initiatives in our new products," Dato' Mohd. Nadzmi said.

Proton Holdings Berhad Group managing director Dato' Syed Zainal said despite the current market outlook, Proton's sales both in the domestic and overseas markets are expected to improve with the gradual introduction of the Saga (S16) and Exora to global markets.

"The driving force responsible for growing our domestic sales volume and market share has been our best-selling models the Persona, Saga and Exora," he said.

"As for export, in December we will be launching the Exora in Thailand, as well as the S16 in Australia and Egypt despite the challenges, the Group believes sales volume prospects will be resilient," said Dato' Syed Zainal.

"We will continue to focus on enhancing our returns by investing in the development of new value-for-money products, expansion into key selected markets and the execution of operational efficiency initiatives such as the rationalization of dealers and suppliers, improvements in quality and capacity optimization," he added.

Proton Australia's model range

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