UMW sees higher sales, profit

  • Business
  • Tuesday, 28 Feb 2012

SHAH ALAM: UMW Holdings Bhd expects its revenue and profit to increase by 5% to 8% this year bolstered by higher contribution from its automotive segment.

President and group chief executive officer Datuk Syed Hisham Syed Wazir said the group planned to launch new and facelift models this year and they were expected to boost demand.

“We just launched the new Toyota Avanza, Prius and Prius C. We will launch the new Camry and facelift Vios soon,” he told Bernama after a parnership signing ceremony between UMW Holdings and Mercy Malaysia here yesterday.

UMW Group is an international conglomerate that develops industries, manages partnerships and facilitates growth in automotive, equipment, manufacturing and oil & gas sector.

Meanwhile, in a statement, UMW Holdings said it expected UMW Toyota and Perodua to sell a total of 281,000 cars this year, a 3.9% increase, or 10,560 cars, compared with last year.

The group also expected the revenue of the oil and gas segment to improve this year and it was currently in discussion with few parties pertaining to collaboration in oil & gas, manufacturing, engineering and equipment, it said.

It said operating profit of the oil & gas segment was expected to improve this year in consideration of a full-year contribution from Naga 3 as well as higher day-rates for its land rights, Ghazal 3 and 4 as well as a full-year contribution from Ghazal 5.

Profits would also improve further with the installation and commissioning of equipment and facilities for the Garraf Power Plant in Iraq which was expected to substantially completed this year, it said.

UMW Holdings’ pre-tax profit for financial year ended Dec 31, 2011 rose by 5.2% to RM1.381bil from RM1.313bil in the same period the previous year.

Revenue increased by 5.7% to RM13.556bil from RM12.280bil previously. — Bernama

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