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BUSINESS

UEM Edgenta posts RM9.4 mln net profit in Q1, positions for long-term growth

26/05/2022 10:41 PM

KUALA LUMPUR, May 26 (Bernama) -- UEM Edgenta Bhd’s net profit for the first quarter ended March 31, 2022 increased to RM9.4 million from RM6.6 million in the same period last year while its robust orderbook stood at RM10.8 billion, providing long-term prospects until 2038.

The asset management and infrastructure solutions company’s revenue grew 11.5 per cent to RM539.2 million from RM483.6 million previously.

In a statement today, it said the company continued to gain contracts during the quarter and has secured over RM500 million worth of new contracts, achieving 40 per cent of the financial year 2022 target orderbook replenishment, amounting up to RM1.3 billion. 

UEM Edgenta said international markets contributed 60 per cent of the new contracts, a testament to the company’s international market expansion strategy. 

It said its healthcare support division, particularly commercial contracts, continued to anchor 66 per cent of the new wins.

Managing director/chief executive officer Syahrunizam Samsudin said it has been a positive quarter for the company with the continued growth of its topline and bottomline and healthy orderbook replenishment supported by market recovery and the company’s diversification strategy. 

“However, we remain cautiously optimistic on the outlook as the positive prospects, driven by the relaxation of international travel restrictions and the nation transitioning towards the endemic phase, are countered by various headwinds, namely global inflationary pressures, supply chain disruption and market volatility. 

“As an organisation, we will continue to innovate and remain agile in responding to these challenges,” he added.

-- BERNAMA



 


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