expects an encouraging performance for the remainder of the year following the release of positive results in its first financial quarter ended July 31, 2022 for financial year 2023 .
Revenue in the quarter more than doubled to RM716.87mil from RM320.79mil in 1Q22 from higher sales of automotives. Earnings per share in the quarter rose to 4.32 sen from 0.88 sen in the comparative quarter. Bermaz stated that the improved performance was mainly owing to the increase in the overall sales volume from the group’s Mazda, Peugeot and Kia operations in Malaysia, as consumers rushed to register their vehicles before the expiry of the sales tax exemption incentive period on June 30, 2022.
“The group has also accounted for its employees’ share option scheme expense of RM0.4mil in the quarter under review as compared to RM0.5mil in the preceding year’s corresponding quarter,” it said in a statement.