UEM Edgenta Berhad (UEM Edgenta) posted 16.2% increase in net profit to RM28.6 million in the nine months ended 30 September 2023 (9M FY2023) on the back of a higher revenue of RM2.07 billion.
In a statement, the group said this reflected its resilience and ability to renew and win new contracts from its existing client base as well as new clients and growth markets.
In announcing its unaudited financial results today for the nine-month period under review, the group reported a 14.3% growth in revenue to RM2.07 billion from RM1.81 billion in the same period last year.
“This is through enhanced technology-enabled solutions, and high-quality service delivery, yielding strong client retention,” it said.
To date, UEM Edgenta’s order book stands at RM9.2 billion, out of which 67% is contributed by Infrastructure Service segment.
In the first nine months of FY2023, UEM Edgenta secured new contracts totalling RM1.6 billion, achieving the group’s FY2023 full-year target in 9 months.
“We mantained a robust pipeline of contract renewals and new wins in its established markets, namely Malaysia, Singapore, Taiwan, Indonesia, and the United Arab Emirates.
“Integration with the new subsidiary in the Kingdom of Saudi Arabia (KSA), MEEM For Facilities Management Company, is on track for the group to pursue the growth opportunities in KSA.
The asset management and infrastructure solutions provider said for the quarter under review, Q3FY2023, net profit grew by 18.9% to RM5.2 million from RM4.4 million in Q3FY2022.
Meanwhile, revenue improved by 11.6% to RM721.1 million driven by effective execution of ongoing contracts by both Singapore and Taiwan Healthcare Support and Property and Facility Solutions (PFS) divisions.
It also came from increased pavement works performed for expressways by Infrastructure Services segment.
Its managing director and chief executive officer Syahrunizam Samsudin said with technology reshaping every facet of UEM Edgenta’s business, it continue to allocate resources and invest for growth that can differentiates itself from others.
“This is through being steadfast in optimising our delivery models and elevating our operational efficiency for customers. As we move forward, we remain agile and responsive, leveraging our digital capabilities to adapt to evolving market dynamics and consistently deliver value to our stakeholders,” he added.
At the end of 30 September 2023, the group’s balance sheet showed a net asset per share of RM1.94, cash and bank balances of RM650.3 million and a gearing ratio of 0.31 times.
