Petronas Trading Ltd. (GDP) recorded a revenue increase of 10.3 per cent to RM10.9 billion in the first half of the financial year ended 30 September.
The increase in revenue Petroleum Nasional Bhd subsidiary. (Petronas) is driven to positive growth in sales volume and average selling price of oil higher.
Managing Director, Amir Hamzah Azizan said the GDP growth of 6.9 percent due to increased average selling prices due to higher oil prices on global markets.
"The emphasis on marketing strategy also has an impact through an increase of 2.8 per cent of turnover in the period," he said in a press release today.
Meanwhile, gross profit in GDP rose marginally by 4.1 per cent to RM561.5 million due to lower revenue for the product Mogas, Asphalt and lubricants.
However, these problems can be offset by profits generated from other products such as diesel and aviation fuel and tighter control of operations.
Amir Hamzah said, the GDP will remain committed to developing long term business to enhance returns to shareholders.
"Despite the economic slowdown earlier this year, PBD was still able to open a petrol station to-950 to support the development of the retail sector for the last quarter.
"We are optimistic to maintain status as a leading local petroleum retail industry," he said.
