Tan Chong Motor Holdings Bhd registered a higher pre-tax profit of RM105.152 million for the first quarter ended March 31,
2011 compared to RM88.913 million in the same period last year.

Revenue grew to RM1.132 billion from RM870.367 million previously, the company said in a filing to Bursa Malaysia today.

'Although booking levels remain elevated, we started to pace production as a response to mitigate risks in the auto supply chain, since the earthquake in Japan on March 11,' it said

Tan Chong Motor said sales momentum might slow in the second quarter but pick up again in the second half of this year.

It said Nissan was focusing all efforts to ensure swift restoration of its production operations.

'Despite an uncertain production environment in the near-term related to the disaster in Japan, we are rightsizing our working capital by de-leveraging, reducing inventory and increasing cash in the second quarter to be ready for a recovery led by stock replenishment,' it said. -- Bernama