Malaysia: Small profit after six quarters of losses for Proton
Friday, November 30, 2007, AutomotiveWorld.com
Proton Holdings Bhd has announced its first profit in six quarters, following a cost-cutting drive and the successful launch of the new Persona sedan in August, Reuters reports.
The state-controlled firm made a profit of Ringgits 3.5m (US$1.05m) in the 1 July-30 September quarter compared with a loss of Ringgits 250.3m in the year-earlier period.
Revenues rose by 3% to Ringgits 1.31bn from Ringgits 1.27bn ringgit a year earlier.
The OEM said its share of the home market was also up, reaching 33% at the end of its second quarter. It added, however, that it expects competition in the Malaysian market to remain challenging.
In related news, the company launched its brand in Thailand on 28 November with the initial range consisting of the Savvy, Satria Neo and Gen.2. The company notes that this is the latest ASEAN market to be targeted, following launches in Singapore, Brunei and Indonesia.
Published on Friday, November 30, 2007
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