PETALING JAYA: DRB-Hicom Bhd charted revenue worth RM2.62bil in its second quarter ended June 30, 2021 (Q2), which was a 30.8% rise against the previous corresponding period.

       For the six-month period ended June 30 (H1), revenue rose 29.4% to RM6.13bil compared with the same period a year earlier, it said in a note to Bursa Malaysia yesterday.

       The group recorded a pre-tax loss of RM279.53mil and RM243.22mil during Q2 and H1, respectively.

       “This was an improvement against larger losses for the same periods in 2020, at RM365.80mil and RM511.11mil respectively,” it said in a statement.

       Despite sales pressure as a result of the various movement control orders (MCOs) imposed to curb the spread of the Covid-19 pandemic, DRB-Hicom said its automotive division’s revenue for H1 rose 52% to RM4.35bil against 2020.

       “This was largely due to the sales of vehicles by national automotive company Proton and other marques under the group, as well as revenue from manufacturing and engineering companies such as PHN Industry Sdn Bhd and Hicom-Teck See Manufacturing Malaysia Sdn Bhd.

       “Revenue came in at RM1.78bil in Q2, rising by RM721mil or 68% against the same period in 2020.”

       Nevertheless, DRB-Hicom said the prolonged MCO is expected to impact full year sales as showrooms for Proton, Honda, Mitsubishi, Volkswagen, Isuzu and Tata remained closed in some states despite the recent re-opening of 11 economic sectors.

       “Even as the Hicom Automotive Complex in Pekan, Pahang obtained permission to operate as the east coast state moved into phase two of the National Recovery Plan, vendors and suppliers based in the Klang Valley were closed, halting component supply.”

       Commenting on its prospects, DRB-Hicom said the automotive sector remained the backbone of the group’s businesses.

       “With the implementation of the Full MCO that halted vehicle sales, Proton and other marques within the group will focus on re-strategising its sales plan.”