KUALA LUMPUR: UEM Edgenta Bhd’s net profit eased to RM17.28 million in the third quarter (Q3) ended September 30, 2019 from RM17.56 million a year ago.
Its revenue increased 11.2 per cent to RM587.64 million from RM528.33 million.
UEM Edgenta said all divisions had recorded growth in revenue during the quarter.
However, growth in profitability was muted, mainly on the back of external headwinds faced with its infrastructure-related businesses.
In particular, it said the asset consultancy division had posted a slight loss of RM900,000, while infrastructure services’ profitability decreased on the back of increased operational costs.
UEM Edgenta’s balance sheet remained strong with net assets per share at RM1.77 and gross gearing ratio was mostly unchanged throughout the year at 0.36x.
For the nine months, UEM Edgenta’s net profit increased 4.7 per cent to RM84.29 million from RM80.51 million, while revenue grew 10.7 per cent to RM1.69 billion from RM1.54 billion.
“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.
“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 efficiency of our workforce and operations,” said UEM Edgenta managing director and chief executive officer Datuk Azmir Merican.
Azmir said the company would continue to remain vigilant to the different challenges faced by its core business segments in the sectors and markets that it is present in and seek new business opportunities and technological solutions to better manage its clients’ asset lifecycles.