UEM Edgenta makes RM17.3mil net profit in Q3

  • Corporate News
  • Friday, 22 Nov 2019

KUALA LUMPUR: UEM EDGENTA BHD, an asset management and infrastructure solutions company said revenue improved in the third quarter but earnings slipped on higher operational costs.

"All divisions of the company recorded growth in revenue during the quarter; however, growth in profitability was muted, mainly on the back of external headwinds faced with its infrastructure-related businesses," it said in a statement today.

Net profit in the three-month ended Sept 30 was RM17.3mil compared with RM17.6mil a year ago.

Revenue rose 11% to RM587.6mil.

Managing director and CEO Datuk Azmir Merican said the company will continue to remain vigilant to the different challenges faced by its core business segments and seek new business opportunities and technological solutions to better manage its clients’ asset lifecycle.

For the first nine months of the year, net profit was RM84.3mil compared with RM80.5mil last year.

The group's healthcare support division, which serves 300 hospitals in Malaysia, Singapore, Taiwan and India, contributed about half of the company revenue and profit in the first nine months.

The division registered a strong 16% growth in sales and profits during the period.

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