KUALA LUMPUR, Nov 30 (Bernama) — The implementation of the Full Movement Control Order (“FMCO”) had significantly impacted UMW Holdings Berhad’s financial performance for the third quarter ended 30 September 2021 (“3Q 2021”). Revenue declined by 24.3% to RM2,016.4 million compared with the RM2,663.3 million reported in the corresponding quarter ended 30 September 2020 (“corresponding quarter”). Consequently, the Group reported a lower profit before taxation and zakat (“PBTZ”) of RM16.5 million in 3Q 2021 compared with the RM159.5 million registered in the corresponding quarter.
Nevertheless, for the first nine months of 2021, the Group’s revenue increased by 17.5% to RM7,415.7 million compared with the RM6,312.3 million registered for the same period of 2020, primarily contributed by the Automotive and Equipment segments following the longer sales tax exemption period and the relaxation of the FMCO. In line with the higher revenue, PBTZ increased by 29.3% to RM211.8 million. The Group recorded profit attributable to shareholders (“PATAMI”) of RM28.3 million for the first nine months of 2021. The Group’s gearing, being total debt over equity, remained low at 0.35 times, with a healthy cash and cash equivalents and money market investments of RM2.7 billion at the end of September 2021.