– Group revenue surged by 74.1% compared to the preceding quarter as all three core business segments registered improved performance.
– Higher share of profit from Associates also contributed to the improved earnings.
KUALA LUMPUR, Nov 26 (Bernama) — UMW Holdings Berhad (“Group”) registered profit after tax and minority interests (“PATAMI”) of RM101.3 million in the third quarter ended 30 September 2020. Group revenue of RM2,663.3 million was higher than the RM1,529.7 million reported in the preceding quarter ended 30 June 2020 (“preceding quarter”) mainly due to improved performance from all its main segments spurred by the sales tax exemption for the automotive industry. In line with the increase in revenue, the Group reported a profit before taxation (“PBT”) of RM159.5 million in the current quarter compared with a loss before tax (“LBT”) of RM58.8 million in the preceding quarter.