KUALA LUMPUR - MALAYSIA'S national carmaker Proton announced on Monday an 87 per cent rise year on year in second-quarter net profit due to strong sales at home.
The results come as Prime Minister Najib Razak urges the company to seek a tie-up partner in a bid to ensure its survival as it faces mounting competition at home and abroad.
'The improvement in performance was achieved on the back of higher domestic sales volume and profit margins, which continued to strengthen through better product mix,' Proton said in a statement.
'Domestic sales volume grew by 11 per cent compared to the immediate preceding quarter primarily driven by increased sales of the top three models, the Saga, Persona and Exora,' it added.
For the three months ended September 30, net profit was RM82.1 million (S$33.23 million) compared with RM43.8 million at the same period last year, the company said.
Revenue rose to RM2.10 billion from RM1.85 billion but the firm added: 'Given that the outlook for global vehicle demand is still uncertain, the group remains cautious.' Proton was formed 25 years ago as part of an ambitious national industrialisation plan, but its market share has slumped in recent years. -- AFP
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