It has been a great second quarter for the country’s biggest Mercedes-Benz dealership, Cycle & Carriage Bintang. It posted a RM21.83 million profit for the quarter ending June 30 (2QFY15), which is about 10 times higher than the RM2.03 million achieved over the same period last year.
Revenue, meanwhile, doubled to RM472.36 million for the quarter under review, from RM 231.16 million last year. Its net profit in the first half of the year catapulted to RM28.47 million or 28.26 sen a share, from RM3.73 million or 3.7 sen a share in the last corresponding period.
Cycle & Carriage chairman Alex Newbigging, said the group’s performance was attributed to strong sales of popular models (the brand posted record sales so far this year), improved margins and recognition of the Mercedes-Benz Malaysia Sdn Bhd (MBM) dividend income.
Newbigging says that its Mercedes-Benz operations recorded a net profit of RM17.3 million over the first half of the year, compared to RM3.7 million in 2014, due to a 46% jump in unit sales and better margins. “Overall net profit, which included dividend income received from MBM in June 2015, was RM28.5 million,” he added.
The group recently commenced a programme to upgrade existing facilities, while a new Autohaus in Cheras, Kuala Lumpur, is expected to be operational by the end of the year.
In terms of the outlook for the rest of the year, Newbigging believes there will be tougher trading conditions amid model life cycle issues as well, i.e. the ageing E-Class. Cycle & Carriage shares closed on a three-and-a-half-year-high at RM3.46, with a market capitalisation of RM348.58 million.
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Inb4 Maslan will tweet “GST berjaya, rakyat makin mampu pakai Mercedes. Pembangkang tipu, mana membebankan rakyatnya?”
Mercedes cheaper to maintain than Proton
You just shows your stupidity, not his
You just show you are tokmoh buttlicker
You just show you’re his buttlicker, mmmm…
You just showed you lick your own butts
why so serious idiot?
Go and play with your cars on PS4
Case study.
What about Proton?
Everything OK for business bosses in Malaysia.
but everything not OK for Wage Earners.
Something is very wrong with the economy.
Maybe bosses hired Bangla, Indo….cut cost a lot…and saved the money for buying Merc ka??
The govt should force bosses to buy proton instead of mercs, to prove the bosses a patriotic, Ada berani ka?
Bosses will rather buy ‘PATRIOT’ number plate than Proton to prove they are patriotic
Your gov, their cronies and 1mdb bosses are buying merc in bulk due to the amount that they have taken from the people, force them to use only local made product including proton to show as an example to the people la, berani tak??
i think u crap alot , if u cant afford than shuddap and watch them driving
everything when cronies involved sure lost money for the company but individual pocket earned…we been proven again and again…
So you sure no crony there? Prove me.
people like u making malaysia corrupted.
Cycle & Carriage Bintang sets record profit (up 10-fold) due to “MANY AH PEK THAT WILLING TO GET CON”
Obviously you’re not doing something right with your life if you still cant join the ranks of those silly ah peks and buy luxury cars at a whim
LOL!!! A cruel way to put it, but god damn you are right.
“It posted a RM21.83 million profit for the quarter ending June 30 (2QFY15), which is about 10 times higher than the RM2.03 million achieved over the same period last year.”
WTF?!! How did C&C manage business last year? oni RM2M profit? Business snatched by Hap Seng Star? Teruk la oni RM2M profit, for a Mercedess-Benz Dealership.
please learn how to read properly. it’s only for one quarter. there are four quarters in a year.
Btw, can u earn 1 million in a quarter…if not just keep quiet will done no harm to u..
CCB is an abbreviation of certain hokkien phrase! Lol!