Friday 29 Mar 2024
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KUALA LUMPUR (Feb 25): UEM Edgenta Bhd’s core net profit in the fourth quarter ended Dec 31, 2018 (4QFY18) expanded 27.8% to RM69.09 million from RM54.07 million previously on lower finance costs and taxes.

When including gain of disposal of a subsidiary amounting to RM274.91 million recorded in the previous corresponding quarter, UEM Edgenta’s net profit fell by more than two-thirds to RM67.73 million from RM324.81 million previously.

Quarterly earnings per share fell to 8.14 sen from 39.06 sen last year, the bourse filing showed.

The group has declared second interim dividend of eight sen per share with entitlement date on April 18, to be paid on May 9.

Quarterly revenue fell 3.7% to RM647.35 million from RM672.31 million last year, as lower contribution from two segments — consultancy, and infra services — offset the rise in contribution from healthcare services, property and facility solutions, and property development.

For the full financial year ended Dec 31, 2018 (FY18), UEM Edgenta’s net profit fell 64.55% to RM148.24 million from RM418.19 million the year before.

After excluding discontinued operations from the previous year’s numbers, its core net profit for FY18 was 27.04% higher against RM125.13 million recorded previously, attributed to better efficiency, lower finance costs and higher revenue.

Annual revenue grew marginally by 2.92% to RM2.18 billion from RM2.12 billion previously as lower contribution from consultancy segment was offset by higher revenue across the board.

“In 2019, building on its solid financial performance in 2018, UEM Edgenta will continue to focus on operational improvement programmes, training and technology/innovation,” said UEM Edgenta.

“The company remains optimistic of its prospects in the infrastructure and healthcare sectors, in which it predominantly operates,” it added.

Shares of UEM Edgenta went up six sen or 2.2% to RM2.84, giving the group a market capitalisation of RM2.36 billion.

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