Lower sales: A UMW Toyota signage is seen in Rawang.la The automotive revenue dropped 20.3%, dragging down UMW
PETALING JAYA: UMW Holdings Bhd
is expected to record better earnings on the back of improved auto sales and the disposal of subsidiary UMW Oil & Gas Corp Bhd (UMW-OG), according to MIDF Research.
“From the second quarter of 2017, earnings should improve quite significantly from the absence of UMW-OG losses in the second half and further improvement in auto earnings against the seasonally weak and peak dollar in the first quarter,” it said in a report yesterday.
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