The automotive, agriculture and heavy equipment-distributor RMA Cambodia has earned an annual after tax profit of $38.6 million as stronger than expected sales in Ford and John Deere drive higher profits.
The 2021 annual results is an increase of 62% compared to $23.8 million in 2020 and 72% increase from $22.3 million in 2019.
In a fourth quarter filing to the Cambodia Securities Exchange RMA Cambodia Chairman Kevin Whitcraft stated in the fourth quarter of 2021, RMAC has again demonstrated its strong business performance with the Ford brand capturing the leading market share of the new non-luxury car market.
The Agriculture Equipment Division distributing the John Deere brand is another solid contributor to the RMAC business achieving an increased tractor market share. Our Agriculture Equipment Division have clenched the 2021 Outstanding Performance Award of significant contributor by John Deere Asia Pacific after their fantastic sales achievement in 2021.
The company’s sales in Q4 of 2021 have increased by 38.8% compared to the same quarter the previous year. These number demonstrate the sound business models developed as well as the loyal customer base our RMAC Company, and its brands have established in the Cambodia market.”
RMA Cambodia continues its strong investment
The Bangkok based RMA Group entered the Cambodian market in 1992 as a provider of dedicated system solutions for commercial and non-commercial enterprises in the sectors of infrastructure, energy and logistics.
Most recently the company announced a $21 million investment to establish a vehicle assembly factory aimed at meeting demand for new cars in the local market in Pursat province. According to the company local assembly and government incentives should allow RMAC to “slightly lower” the price of the best-selling Ford models.
Whitcraft added in his fourth quarter statement: “I am proud to emphasize that RMAC thrives to execute its business strategy of being the leading supplier of world class automobile, construction, agricultural equipment, and materials handling equipment ii Cambodia
RMAC has continued to fulfill its long-term objectives of meeting our Cambodian consumers’ needs by launching exciting new products with a specific focus on technology, lower fuel consumption and with a constant view towards safety.
RMAC ensures a continuous focus of being a major player in the Cambodian economy developing our human resources and people’s diversity, while understanding our important social and environmental responsibilities, During the 4 quarter of 2021, RMAC has hired 71 new people. On the CSR topic. RMAC was awarded the runner-up position by the American Chamber of Commerce.”