PETALING JAYA: DRB-Hicom Bhd will continue to strengthen operational efficiency and cost management initiatives for its aerospace and defence, banking, services and properties.

In a filing with Bursa Malaysia, the company said its postal sector remains on track in its transformation roadmap, leveraging on technology to enhance customer experience and continue to adopt prudent cost control discipline.

“The group expects a satisfactory financial performance for the financial year ending Dec 31, 2023, as compared to the previous year,” it said.

For its second quarter ended ended June 30, 2023, DRB-Hicom’s net profit tumbled to RM33.71mil from RM169.56mil in the previous corresponding period, while revenue in the second quarter rose to RM3.98bil from RM3.55bil a year earlier.

Basic earnings per share stood at 1.74 sen versus 8.77 sen previously.

DRB-HICOM said its automotive division recorded higher revenue mainly from Proton automotive distribution companies and manufacturing and engineering companies.

“In the previous corresponding quarter, the sector recorded lower revenue mainly due to PROTON’s lower sales which were affected by the lack of available stocks, as a result of disruption in supply by the flood-affected local vendors and global chip shortages.”

For the first half of 2023, DRB-Hicom’s net profit stood at RM141.62mil from RM143.82mil a year earlier, while revenue grew to RM8.09bil against RM6.62bil previously.

During this period, DRB-HICOM said Proton recorded an impressive 28.6% increase in sales volume or 77,321 units, with Saga, X50 and Persona contributing more than 80% of Proton’s total sales volume.

“Proton’s first new energy vehicle, the X90, continued to garner strong local demand to become the new D-segment SUV leader.

“Other marques within the group, such as the all-new Honda WR-V, is also taking the lead in the small SUV market with over 2,500 bookings within a month of its launch.”