KUALA LUMPUR, Nov 20 — The UMW Group announced a pre-tax profit of RM288.2 million for the third quarter ended Sept 30, 2009, a 55.4 per cent growth from the pre-tax profit of RM185.5 million in the second quarter.
The third quarter figure however was a decline when compared with the pre-tax profit of RM353.8 million recorded in the corresponding quarter of last year.
The international conglomerate, with its core businesses in the automotive, equipment, manufacturing and engineering and oil and gas sectors, attributed the improved performance in the third quarter from the second quarter to higher profit contribution from several associated companies.
In a statement today, the group said revenue shot up to RM2,797.7 million for the quarter reviewed, an increase of RM216.6 million over the RM2,581.1 million recorded in the second quarter of 2009.
It again was a decline by RM528.5 million or 15.9 per cent lower when compared with the revenue of RM3,326.2 million registered in the corresponding quarter of last year.
It said demand for Toyota vehicles in the third quarter went up but it was still not up to the 2008 level due to the recent economic slowdown.
Unfavourable foreign currency exchange rates coupled with lower revenue and profit contribution from some associated companies resulted in the 18.5 per cent or RM65.6 million year on year profit reduction, it said.
President of UMW Holdings Bhd, Datuk Abdul Halim Harun said the group expected to achieve satisfactory financial results for this year, albeit lower than the record 2008 performance.
The group expects its dividend payout targets for the year to be achievable. - Bernama
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