Petronas Dagangan posts higher profit in 2007

Petronas Dagangan Bhd reported a pre-tax profit of 908.4 million ringgit (US$277.72 million) for the 2007 fiscal year ending March 2008, slightly higher than the figure a year ago of 903.2 million ringgit (US$276.13 million). However, revenues were down by 12.56%, from 22.3 billion ringgit (US$6.82 billion) to 19.5 billion ringgit (US$5.96 billion). Higher profit was attributed to enhanced performance, higher gross profit and higher volume and average selling prices during 2007-2008, compared to 2006-2007. (May 27, 2008)