“The automotive segment’s performance improved significantly as it benefitted from the sales tax exemption as well as the introduction of new models,” president and group chief executive officer Datuk Ahmad Fuaad Kenali (pic) said in a statement.
PETALING JAYA: Strong auto sales have helped bump up UMW Holdings Bhd
’s net profit in the first quarter (Q1) of the financial year ending Dec 31,2021 (FY21).
The group saw the quarter’s net profit more than doubled year-on-year (y-o-y) to RM97.3mil from RM44.3mil recorded in the first quarter of the previous year.
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