UWC'S NET PROFIT JUMPS 66 PCT TO RM14.59 MLN IN Q3

KUALA LUMPUR, June 4 -- UWC Bhd’s net profit in the third quarter ended April 30, 2020 jumped 66 per cent to RM14.59 million from RM8.82 million in the same period last year.

Revenue rose 45.7 per cent to RM55.80 million from RM38.31 million despite being restricted to operate at only 50 per cent capacity for seven out of the 13 weeks in the quarter following the implementation of the movement control order (MCO), which started on March 18.

The integrated engineering supporting services provider attributed the performance due to the stronger demand from its global semiconductor and life science customers.

“During this period in time, UWC was also engaged by a life science client whereby the group worked closely together to develop COVID-19-related equipment,” it said in a statement today.

For the nine-month period, the company’s net profit increased to RM39.12 million from RM26.13 million, while revenue appreciated to RM157.64 million from RM97.45 million.

Executive director and group chief executive officer Datuk Ng Chai Eng said UWC orders remained strong with no cancellations to date during the current MCO period.

“We have been adapting to the new norms by requesting for more online video conferencing in the process of qualifying products to minimise disruptions to our operations.

“As we speak, no doubt we are still in unprecedented times with lockdown of economies in most countries. However, this will not discourage UWC from moving forward. We continue to receive enquiries from existing and new customers,” he added.

 Eng said the company is still optimistic of the industry’s future prospects as technology advancement will always continue.

“Now that UWC is allowed by the government to run at full capacity (from May 1), our outlook should be brighter. I am looking forward to better quarters to come.” he noted.

-- BERNAMA