It said the automotive segment’s revenue for the year decreased by 19.5% year-on-year to RM7.48bil, mainly due to the lower number of vehicles sold during the movement control order (MCO) period.
KUALA LUMPUR: UMW Holdings Bhd
’s (UMW) net profit fell by more than half to RM204.6mil in the financial year ended Dec 31,2020 (FY20) from RM454.4mil in FY19.
Revenue declined to RM9.55bil from RM11.76bil previously, mainly due to lower revenue recorded in all of its main business segments due to the Covid-19 pandemic’s adverse impact, it said in a filing with Bursa Malaysia yesterday.
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