KUALA LUMPUR: Tan Chong Motor Holdings Bhd’s revenue surged past the RM1bil mark in the third quarter, the first time in a single quarter, driven by new models.
Announcing a set of stellar results on Monday, it said the revenue rise 69% to RM1.002bil from RM593.03mil a year ago.
Net profit jumped to RM95.42mil from RM33.17mil. Earnings per share was 14.3 sen compared with 4.97 sen a year ago.
On the production volume, it ramped up 23.9% sequentially from 8,784 units in Q2 to 10,884 units in Q3.
The combined market share of all three brands namely, Nissan, UD and Renault was at 6.0% of total industry value of Q3 compared to just 3.8% for the whole of last year.
“Without the RM4.6mil impairment charge, pre-exceptional net profit hit a record high of about RM100mil in Q3, 2008 compared to RM68.2mil and RM54.3mil in the two preceding quarters of this year,” it said.
Tan Chong Motor said with a net margin of close to 10% in Q3 2008, the company is one of the most profitable auto companies at a time of global crisis.
For the nine-months period, revenue was RM2.54bil compared with RM1.42bil in the previous corresponding period. Earnings rose to RM217.61mil from RM67.65mil.
Tan Chong Motor said its Q3 outperformance was anunlikely result during an unusual period of external shocks.
“The introduction of a 3rd model in our platform sharing initiative resulted in greater cost efficiency at the Serendah assembly plant.
"The all-new Nissan Sylphy launched in end June is the bigger engine brother of the popular Grand Livina, Latio tuned, Latio sport and Latio sedan,” it said.
SU: Mengapa Tan Chong Motor yang untung besar sampai 1 Billion ni tak dapat menjalankan tanggongjawabnya kpd masyarakat di Taman Ehsanibu, Sg Buaya... sekurang2nya ringankan beban "contiminasi" di pinggir dinding bersebelahan Taman Ehsanibu.....
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