RMA Cambodia – the automotive, agricultural and heavy-equipment distributer has posted a $18.9 million first half net profit this year up 34% from $14.2 million compared to the same period last year. The increase was attributed to strong sales Ford, with its Ford Ranger continuing to be the number one new selling vehicle in Cambodia.
Kevin Whitcraft, Chairman of RMA Cambodia reported that in the 2nd quarter of 2021, RMA Cambodia achieved $77.5 million of sales which is 35% lower than the 1st quarter of 2021, one of the best quarters on record. Adding, with a complete lockdown in the capital of Phnom Penh and key provinces the month of April saw a dramatic drop in business to rebound vigorously in May and June when the curfews were eased.
According to the report the Ford brand has further increased its market dominance in Q2 2021 grabbing a market share of 42.5% for new vehicles in the period from 1st January 2021 to 30th June 2021, compared with 35.0% on the same period in 2020.
John Deere holds the 2nd position in the tractor business in Cambodia and has maintained its leadership in large sized tractors and harvesters.
The company said the COVID 19 pandemic has impacted demand by causing delays and cancellations of major private and public sector projects, a reduction in consumer confidence, loss of the tourism and hospitality business and more cautious bank lending.
RMAC is a diversified company representing a number of world class brands, including Ford, Jaguar Land Rover, Fuso, John Deere and JCB. While other business segments are developing, the Ford business segment is a major segment of the company’s current revenue structure