UWC reports lower earnings for 2Q

KUALA LUMPUR: UWC Bhd’s net profit fell 8% to RM25.1mil in the second quarter ended Jan 31, 2022 (2Q22) from RM27.24mil a year ago.

The integrated engineering supporting services provider said the lower profit was due to higher depreciation expenses and higher staff costs incurred in the current quarter as compared to the corresponding period in the previous financial year as a result of substantial capital investment and also increase in headcount in relation to our corporate expansion plan.