Improving further on...UAC (RM4.46) posted further sequential improvement in the latest quarter, thanks to rising sales at its core fibre cement division. Given significantly higher margins, this led UAC towards double-digit sequential profit growth in April–June 2003, notwithstanding declining revenue from polyethylene pipes and roof trusses.
?margin gains. UAC has rebounded steadily since the beginning of the year from earlier labour shortage problems, even though sales were still marginally short at half-time. The improvement was most apparent at the margin level, where pre-financing pre-tax profit margin has risen successively from 19.2% in July–September 2002 to 21.4% in October–December 2002, 23% in January–March 2003 quarter and further to 25.6% in the latest results.
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