KUALA LUMPUR (Nov 22): UEM Edgenta Bhd’s net profit was marginally lower by 1.6% at RM17.28 million for the third quarter ended Sept 30 (3QFY19) from RM17.56 million last year despite higher revenue.

In a filing with Bursa Malaysia today, UEM Edgenta said “growth in profitability was muted mainly on the back of external headwinds faced with its infrastructure-related businesses”.

The Asset Consultancy division, in particular, recorded a slight loss of RM0.9 million, while infrastructure services’ profitability decreased on the back of increased operational costs, said the company.

Earnings per share slipped to 2.08 sen per share from 2.11 sen.

Quarterly revenue, however, expanded 11.23% to RM587.64 million, from RM528.33 million.

For the nine-month financial period ended Sept 30, the company’s net profit grew 4.7% to RM84.3 million or 10.14 sen per share, from RM80.51 million last year, while revenue rose 10.66% to RM1.7 billion from RM1.54 billion.

On prospects, UEM Edgenta remains vigilant of its prospects for the remainder of the year in the face of challenges on the external front.

The company will continue to drive revenue and maximise profitability via operational improvement programmes as well as technology and innovation roll-out to improve efficiency and deliver cost savings, said UEM Edgenta.

“We are delivering our suite of services at a steady pace and intend to maintain it or even improve further amidst the challenging global economic and political climate,” said its managing director Datuk Azmir Merican, who is also the chief executive officer in a separate statement today.

“Other than that, we are also investing in technology through the recent roll-out of our Enterprise Resource Planning system that will allow us to process data faster, make information more accessible and encourage better decision-making, which will streamline and enhance the efficiency of our workforce and operations,” he added.

Shares of UEM Edgenta closed two sen or 0.66% higher at RM3.05 today, valuing the company at RM2.54 billion.