26 February 2011 - Proton has reported a detriment of RM52 million for Q3 of a 2010/2011 financial year, down from a RM81 million distinction in Q2 of a 2010/2011 financial year. Compared to RM248 million for a same duration of time in a final financial year, this resulted in a reduce distinction before taxation of RM134 million for a initial 9 months of a stream financial year.
“The decline in profit is largely attributable to higher branding costs, as well as restructuring expenses incurred by Lotus Group International Ltd. “As part of the transformation plans to turn around Lotus, the group started investing in rationalisation of dealers network and branding activities to deliver the five-year business plans,” it said.
It also said that during the third quarter, the group experienced lower domestic sales volume and increased promotional and marketing spending by a principal subsidiary. Looking forward, it said: “The improved domestic market outlook and rising fuel prices augurs well for Proton’s core models.
“Coupled with the good response and delivery of the Inspira, our prospects for growing sales volume and increasing market share for the fourth quarter ending March 21, 2011 are good.”
Source: The Star
