KUALA LUMPUR, June 16 (Bernama) — For the first quarter ended 31 March 2020, UMW Holdings Berhad registered a lower revenue of RM2,119.2 million as disruptions caused by the Covid-19 pandemic led to lower sales in the Automotive and Equipment businesses. On a more positive note, the Manufacturing & Engineering (M&E) segment achieved a revenue increase of 4.8% and a strong growth in profit before taxation (PBT). Consequently, the Group’s PBT reduced to RM63.0 million while profit attributable to the owners of the company decreased to RM44.3 million.
UMW Holdings Berhad Acting President & Group CEO, Azmin bin Che Yusoff said, “We will continue to focus on strengthening our core business segments and strategic cost optimisation initiatives to improve our business performance and operational productivity. Amidst the unprecedented challenging business environment, the Group will strive to maintain its performance in 2020.”