National carmaker Proton today said it made a fourth-quarter net profit of RM236.4 million against RM915,000 a year ago.

The auto firm said it had made profits three quarters in a row due to the introduction of newer models with higher profit margins amid lower costs.

Proton had posted a net profit of RM10.329 million in its third quarter.

proton cars and money For the full year to March, the national carmaker swung to a net profit of RM202.9 million compared to a loss of RM589.5 million in the previous financial year.

Sales grew by 14.6 percent to RM5.6 billion.

In a filing with the Malaysian bourse, it said the company's improved prospects were due in part to the introduction of new models with higher profit margins, increased sales volume and savings from cost reduction initiatives.

Proton chairman Mohammed Azlan Hashim told state news agency Bernama the launch of its anticipated multi-purpose vehicles in early 2009 would see Proton expanding its product portfolio.

"In terms of volume, Proton has set itself the target of doubling its total sales volume to 300,000 units by 2010," he told Bernama .

Company officials say they expect improved sales volume and market share growth, especially for the best selling models, the Persona and Saga.

Proton shares closed Monday up 10 sen at RM3.74. Its shares took a beating in November after it said it had shelved alliance talks with Volkswagen and General Motors.

-AFP