KUALA LUMPUR, Feb 28 (Bernama) — UMW Holdings Berhad on 27 February 2020 reported an increase in its consolidated revenue and profit for financial year 2019; as the Aerospace business turned profitable during the year. Performance was further boosted by higher sales in the Automotive, Auto-Components and Lubricants businesses; as well as strategic cost optimisation initiatives.
UMW Holdings Berhad President & Group CEO, Badrul Feisal bin Abdul Rahim said, “UMW understands that we have a responsibility to our stakeholders to optimize returns from the prevailing economic cycle. Amidst a challenging business environment in 2019, the Group took decisive actions to improve the competitiveness of our businesses.”
