DRB hi-com auto horror

From the Edge:

KUALA LUMPUR (May 28): DRB-Hicom Bhd saw a sharp drop of 46% in net profit at RM89.9 million in its final financial quarter ended March 31, 2015 (4QFY15), due to lower profit contribution from certain companies in the automotive and services sectors.

Its earnings per share (EPS) shrunk to 4.65 in 4QFY15, from 8.6 sen in the previous corresponding period. Revenue fell 23% to RM3.2 billion, from RM4.16 billion.

Despite the substantial decline in earnings, DRB-Hicom declared dividend per share of 4.5 sen, maintaining the total dividend declared for the financial year to six sen.

For the full financial year ended March 31, DRB-Hicom posted accumulative net profit of RM300.28 million, down 35% from RM462.16 million the year before. Revenue came in lower at RM13.68 billion, against RM14.2 billion. EPS contracted to 15.53 sen, compared with 23.91 sen the year before.

Zooming in on the horrible Auto sales numbers in April, the worst performer was Proton with a 50% drop compared to 19-35% for other top manufacturers.  I'd stay away from this one.