Kuala Lumpur: Petronas Dagangan Bhd (PDB) reported an increase in net profit to RM1.09 billion for the financial year ending December 30, 2024, up from RM943.08 million in the previous year. The increase in net profit was attributed to higher gross profit across all segments, despite an increase in expenditure.

According to BERNAMA News Agency, PDB’s revenue also saw an uptick to RM37.95 billion in FY2024, compared to RM37.55 billion the previous year. This growth was driven by a 3.0% increase in sales volume, even as the average selling prices decreased by 2.0%. For the quarter ending December 31, 2024, PDB declared an interim dividend of 25 sen per ordinary share and a special dividend of 20 sen per ordinary share.

In an additional statement, Petronas Dagangan highlighted achieving an all-time high annual sales volume of 16.8 billion litres over the 12-month period. Managing Director and CEO Azrul Osman Rani emphasized that the year’s performance underscores the strength of their strategic execution. He noted that despite a challenging environment, PDB managed to maintain profitability, demonstrating the robustness of its business model and customer trust.

Looking forward, PDB anticipates steady private consumption and an accelerated implementation of national development plans, contributing to a more stable operating environment in 2025. However, the company acknowledged that global trade uncertainties and moderating oil prices could impact market conditions. In response, PDB remains focused on strengthening its core and convenience segments through strategic initiatives and market opportunities.

Azrul further stated, “With the right fundamentals in place, we are ready to navigate challenges and drive the next phase of growth.”