By Gho Chee Yuan
KUALA LUMPUR (Mar 12) -- Malaysia's Bermaz Auto, a vehicles and spare parts distributor for Japanese automaker Mazda, said Monday its net profit for the fiscal third quarter rose 61.2% on year thanks to higher sales recorded by the new CX-5 model.
Net profit for the three months ended Jan. 31 stood at 40.47 million ringgit ($10.37 million) compared to 25.11 million ringgit a year earlier, the company said in an exchange filing. Quarterly revenue grew 65.2% year-on-year to 559.40 million ringgit from 338.68 million ringgit.
The company expects the export of new CX-5 model to Thailand, Indonesia, The Philippines and Cambodia to drive profitability of its associate company Mazda Malaysia.
It also said favourable exchange movement of Malaysian ringgit against Japanese yen in recent months is expected to reduce cost and will likely improve its profitability going forward.
- By Gho Chee Yuan; Terence.Gho@nikkeinewsrise.com; 60320267363
- Edited by Abhijit Basu
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