KUALA LUMPUR, 27 NOVEMBER 2024 – PETRONAS Gas Berhad (PGB or the Group) has recorded solid Profit After Tax (PAT) of RM1.50 billion for the first nine months of 2024 (9MFY2024), a 4.8% increase compared to RM1.44 billion posted in the same period last year, on the back of strong operational performance.
PGB has announced a third interim dividend of 18 sen per share, maintaining the same rate as the previous quarter, demonstrating continued value delivery to shareholders.
For the first three quarters of 2024, revenue stood at RM4.92 billion, an increase of 1.2% from RM4.86 billion posted in the same period last year. The increase was primarily driven by higher revenue from Gas Processing segment due to higher reservation charges under the new term agreement. However, this was offset by lower revenue from Utilities segment, reflecting lower product prices.
The Group’s commitment to effective maintenance programmes has ensured capacity availability in our plant operations across all PGB’s assets, driving higher PAT for 9MFY2024 compared to the same period last year. This is further supported by improved Utilities margin on the back of lower fuel gas costs following the downward movement of Malaysian Reference Price (MRP).
Abdul Aziz Othman, Managing Director and CEO commented, “PGB Group is expected to deliver strong financial performance in 2024, underpinned by the stable-earning contracts and sustained operational performance. The Group remains committed to optimising cost efficiencies to mitigate the impact of an inflationary cost environment”.
Issued by:
PETRONAS Gas Berhad
