BJAUTO (5248) : Berjaya Auto to outperform peers, says CIMB Research
KUALA LUMPUR: Berjaya Auto (BAuto) recorded a highly satisfactory financial performance in the first half ended Oct 31, 2014 (1HFY4/15), with its core net profit surging 111.6% on-year to RM113.6mil.
CIMB Research said on Tuesday the impressive performance was attributed mainly to the good demand for the popular Mazda SKYACTIV models, which led to higher sales volumes for Mazda vehicles in both Malaysia and the Philippines.
In Malaysia, Mazda’s volume growth was mainly driven by the CX-5 (CKD and CBU) models, which is Mazda’s best-selling model in Malaysia, as well as other SKYACTIV models, namely the Mazda 3 and Biante.
In the Philippines, Mazda’s sales volume growth was contributed mainly by the strong performance of its Mazda 2 and Mazda 3 models.
“Consistent dividend play BAuto has declared a second interim single-tier dividend of 3.25 sen per share.
“With its strong cashflow and low capex requirements, we believe that BAuto will continue to reward its shareholders with consistent dividend payments, with the payout ratio expected to be maintained at around 40% of net profit,” it said.
CIMB Research anticipates a more challenging 2HFY4/15 as we expect all major auto makers to step up their promotional activities and aggressive campaigns to gain market share, compounded by the uncertainties of the effects of the Goods and Services Tax (GST) on local car prices.
“Nonetheless, we expect BAuto to outperform its peers, with the anticipated introduction of the all-new Mazda 2 CBU and Mazda 3 CKD models, which are expected to hit the local market in 1QCY15,” it said.
http://www.thestar.com.my
KUALA LUMPUR: Berjaya Auto (BAuto) recorded a highly satisfactory financial performance in the first half ended Oct 31, 2014 (1HFY4/15), with its core net profit surging 111.6% on-year to RM113.6mil.
CIMB Research said on Tuesday the impressive performance was attributed mainly to the good demand for the popular Mazda SKYACTIV models, which led to higher sales volumes for Mazda vehicles in both Malaysia and the Philippines.
In Malaysia, Mazda’s volume growth was mainly driven by the CX-5 (CKD and CBU) models, which is Mazda’s best-selling model in Malaysia, as well as other SKYACTIV models, namely the Mazda 3 and Biante.
In the Philippines, Mazda’s sales volume growth was contributed mainly by the strong performance of its Mazda 2 and Mazda 3 models.
“Consistent dividend play BAuto has declared a second interim single-tier dividend of 3.25 sen per share.
“With its strong cashflow and low capex requirements, we believe that BAuto will continue to reward its shareholders with consistent dividend payments, with the payout ratio expected to be maintained at around 40% of net profit,” it said.
CIMB Research anticipates a more challenging 2HFY4/15 as we expect all major auto makers to step up their promotional activities and aggressive campaigns to gain market share, compounded by the uncertainties of the effects of the Goods and Services Tax (GST) on local car prices.
“Nonetheless, we expect BAuto to outperform its peers, with the anticipated introduction of the all-new Mazda 2 CBU and Mazda 3 CKD models, which are expected to hit the local market in 1QCY15,” it said.
http://www.thestar.com.my
