KUALA LUMPUR, 22 May 2017 – UEM Edgenta Berhad (“UEM Edgenta” or “Company”) recorded a strong financial start to 2017 as revenue increased by RM117.2 million or 18.0% and Profit Before Tax (PBT) improved by RM20.7 million or 78.0% in the First Quarter 2017 (Q1 2017) compared to corresponding quarter 2016 (Q1 2016).
UEM Edgenta’s revenue for current quarter is RM769.0 million versus RM651.8 million recorded in the corresponding quarter last year. The Company’s PBT in Q1 2017 is RM47.2 million compared to RM26.5 million in Q1 2016.
The increase in revenue is mainly contributed by its Healthcare Services Division, which recorded higher revenue by RM115.7 million led by contribution of its subsidiary, Asia Integrated Facility Solutions Pte. Ltd. (AIFS, which owns UEMS Pte. Ltd.) acquired by UEM Edgenta in December 2016.
Its Consultancy Division also registered an increase in revenue by RM17.8 million during the same period and this was mainly due to, among others higher revenue from the strong performance from Opus International Consultants Ltd. Its Real Estate Services Division also posted better revenue in Q1 2017 by RM32.1 million due to positive contribution of subsidiary, KFM Holdings Sdn Bhd (KFM).
In comparison to preceding quarter (Q4 2016), UEM Edgenta’s Q1 2017 revenue of RM769.0 million declined by 10.3% or RM87.9 million lower than Q4 2016 revenue of RM857.0 million. Typically, the Company’s revenue in Q4 is higher compared to Q1 and other quarters given the nature of infrastructure related projects and maintenance works. However, the Company’s PBT recorded in Q1 2017 of RM47.2 million is higher by RM26.9 million or more than 100.0% versus Q4 2016, due to improvement in Healthcare Services Division and Consultancy Division performance. Page 2 of 2
“The higher revenue recorded in Q1 2017 resulted in us posting an increased in our PBT which is led by our Healthcare Services Division as well as Consultancy Division and Real Estate Services Division.
“We are pleased that our strategy for strengthening the Healthcare Division and introduction of Real Estate Services is delivering results as seen in our performance in Q1 2017.
“The acquisition of AIFS and KFM has resulted in UEM Edgenta being able to grow our business and expand our capability as well as geographical presence. Our Real Estate Services business is also beginning to yield positive results,” said Azmir Merican, Managing Director/Chief Executive Officer of UEM Edgenta.
He further added that the positive financial outlook for UEM Edgenta in 2017 will be led by the Company’s Consultancy Division, and contribution from AIFS, KFM as well as its Real Estate Services Division particularly, Township Management Services.