The integrated engineering supporting services provider, UWC has announced its results for the third quarter of the financial year ending 31 July 2022 (Q3FYE22).
Revenue of the group, profit before tax (PBT) and profit after tax (PAT) grew by 21.6%, 39.3% and 24.8% to RM87.3 million, RM37.9 million and RM28.7 million respectively against Q3FYE2021. The overall improved financial performance was the direct result of UWC’s astounding orders and demands from the semiconductor industry. The improved profitability and profit margins were attributed to the Group’s focus in delivering higher value products to its customers.
A sturdy financials with a healthy net cash of RM57.0 million is maintained and current ratio of 5.43 times.
“UWC is pleased to report a new record high revenue and profit amidst the challenging landscape associated with the global disruptions. Our success is the result of our continuous pursuit in shaping our business to better suit the market demands,” Dato’ Ng Chai Eng, Executive Director & Group CEO said.
“In line with our resolves, we have increased our hirings in anticipation of the rising demands through various efforts like participating in the JomKerja@NCER programme introduced by Northern Corridor Implementation Authority and Malaysia’s Short-Term Economic Recovery Plan as the Group provides employment opportunities to unemployed graduates and retrenched workforce. We have also tapped into the ample local workforce in Taiping to expand our footprint in the area which resulted in the successful commencement of our new subsidiary USurface Technology,” he added.
“The Group acknowledges the challenging disruptions brought upon by the Russia-Ukraine geopolitical conflicts, China’s lockdown owing to omicron cases outbreak as well as heightened financial market volatility. However, contrary to public perception, we believe our business prospects are still bright namely in semiconductor and life science industries.”
“Within the semiconductor industry itself, we have branched out to various subsectors of the ecosystem which include front-end semiconductor, 5G millimetre-wave testers and vehicle-to-vehicle testers, and autonomous vehicle chip testers. The testers, which we have built, contributes directly to the respective industries that are expected to have a booming addressable market in the coming years,” he concluded.
