Profit Before Tax Up by 60% in Q3 against Q2
KUALA LUMPUR, 24 November – UEM Edgenta Berhad (“UEM Edgenta” or “Company”) today announced its financial results for the nine months ended 30 September 2016, which saw the Company’s third quarter (Q3) Profit Before Tax (PBT) at RM83.2 million; an increase of 60% from the second quarter (Q2) PBT before impairment of RM52.0 million.
The Company’s PBT for Q3 2016 was, however, lower by RM24.9 million compared to RM108.1 million as recorded in the same quarter of the preceding year.
Revenue for Q3 against Q2 is higher by RM27.2 million or 3.9%. This is largely due to a higher contribution from the Asset Consultancy (“AC”) Division, mainly from the Company’s foreign operations, and higher revenue from the Integrated Facilities Management (“IFM”) Division, primarily from its new subsidiary, KFM Holdings Sdn Bhd.
Azmir Merican, UEM Edgenta’s Managing Director/Chief Executive Officer said that, “Despite the challenging economic environment faced by our foreign operations, we are optimistic that our 2016 results will be positive.”
“While we continuously pursue growth opportunities in all sectors, we are in particular looking forward to the completion of our acquisition of Asia Integrated Facility Solutions Pte Ltd. This acquisition will strengthen our healthcare services operations which is expected to contribute positively to the future earnings of UEM Edgenta as we will see an immediate expansion of our services into regional markets, namely Singapore and Taiwan. This will follow an approval from our shareholders at our upcoming Extraordinary General Meeting.”