KUALA LUMPUR, Aug 28 (Bernama) — The Automotive and Manufacturing & Engineering (M&E) segments of UMW Holdings Berhad recorded satisfactory performance in the second quarter ended 30 June 2019; with higher sales of vehicles and auto components, as well as higher number of fan cases delivered. UMW Holdings Berhad’s revenue from Continuing Operations increased by 1.6% year-on-year to RM2,966.0 million. Excluding the corresponding quarter’s reversal of provisions, this quarter’s PBT of RM179.1m was higher than the PBT of RM110.7 million in the corresponding quarter. The Group registered consolidated net profit of RM84.2 million for the second quarter of 2019.
UMW Holdings Berhad President & Group CEO, Badrul Feisal bin Abdul Rahim said, “Our second quarter operational results have been encouraging and we are confident that the Group will continue to deliver value to our shareholders with the strategic initiatives we have in place. Furthermore, we are actively enhancing our operational efficiencies through cost optimisation initiatives and better business synergies. Our highly-efficient and productive new Bukit Raja automotive assembly plant, coupled with higher local content in the Toyota Vios and Yaris models produced, have improved our margins in the competitive automotive segment. We are aggressively expanding our rental business in the Industrial Equipment segment where we currently manage a fleet of more than 9,000 units in the region. Meanwhile, the outlook for the M&E segment remains healthy as we continue to ramp-up production of fan cases for Rolls-Royce, whilst the demand for automotive components and lubricants continue to be on the rise with higher sales of new vehicles.”
