KUALA LUMPUR, March 18 – PETRONAS Gas Berhad (PGB) announces robust financial performance for the fiscal year ending December 31, 2023 (FY2023), reporting an 8.1% rise in profit after tax (PAT) to RM1.9 billion. The Group attributes this strong performance to sustained operational excellence and robust margins in the Utilities segment, coupled with increased contributions from joint venture companies. Reflecting its financial strength, PGB declares an interim dividend of 22 sen per ordinary share for Q4 FY2023, maintaining continuity with the previous fiscal year. This brings the total dividend distribution for FY2023 to 72 sen, underscoring the Group’s commitment to delivering value to its shareholders.
Despite challenges in the market landscape, PGB maintained its stellar operational reliability across all plants and facilities, ensuring steady earnings from long-term contracts. While gross profit experienced a marginal decrease due to higher operating expenses, the Group’s Profit Before Tax (PBT) improved by 5.1%, supported by various factors including favourable foreign exchange movements and strategic initiatives like early lease liability settlements. Looking ahead, Abdul Aziz Othman, Managing Director and Chief Executive Officer, affirmed PGB’s commitment to fortifying resilience, safety, and efficiency while exploring growth opportunities within the National Energy Transition Roadmap (NETR), aligning with the Group’s aspiration for a greener future.
