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  • UMW RECORDS INCREASE IN 9 MONTH PRE TAX PROFIT

    UMW RECORDS INCREASE IN 9 MONTH PRE TAX PROFIT

    UMW Records Increase In 9-month Pre-tax Profit

    UMW Holdings Bhd has recorded a pre-tax profit of RM1.002 billion for its first nine months ended Sept 30, 2008, up 85.3 percent from RM540.7 million in the same period of last year.

    In a statement Monday, the group said its revenue grew by 35.6 percent to RM9.879 billion from RM7.286 billion previously.

    It attributed the good performance to the strong showing of the automotive and equipment segments.

    For the third quarter ended September 2008, the group’s pre-tax profit increased to RM353.8 million from RM232.6 million previously.

    UMW said higher sales of Toyota vehicles coupled with favourable mix and improved performance of the equipment segment accounted for the higher group pre-tax profit.

    Total Toyota and Perodua vehicle sales of 209,270 units represented 48.7 percent of total industry volume of 429,913 units for the nine months ended September 2008, as reported by the Malaysian Automotive Association.

    Although total demand for motor vehicles in the fourth quarter is expected to slow down in view of the weaker economic outlook, the group does not anticipate sales of Toyota and Perodua vehicles to be substantially affected.

    Its chief executive officer and group managing director Datuk Abdul Halim Harun said this was mainly due to the quality of fuel-efficient vehicles in the group’s wide range of models.

    source : BERNAMA

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