PETALING JAYA : UAC Bhd’s net profit plunged to RM116,000 for 3QFY11 ended Sept 30 from RM2.48 million a year ago, on lower revenue of RM44.8 million.
The concrete product manufacturer attributed the lower revenue to weaker demand for building products in the domestic market as well as pressure on its selling price due to domestic competition and also imports from Thailand and Indonesia.
Year-to-date, group revenue was 3% lower at RM144.3 million from RM148.7 million a year ago. However, year-to-date net profit was much lower at RM5.4 million, a 47.4% decrease from RM10.3 million a year ago. The group stated that its gross profit margin was eroded by lower selling prices and the weaker US dollar. UAC said it continues to face severe challenges in 4Q as the domestic market is not expected to pick up substantially.
This article appeared in The Edge Financial Daily, November 10, 2011.
The concrete product manufacturer attributed the lower revenue to weaker demand for building products in the domestic market as well as pressure on its selling price due to domestic competition and also imports from Thailand and Indonesia.
Year-to-date, group revenue was 3% lower at RM144.3 million from RM148.7 million a year ago. However, year-to-date net profit was much lower at RM5.4 million, a 47.4% decrease from RM10.3 million a year ago. The group stated that its gross profit margin was eroded by lower selling prices and the weaker US dollar. UAC said it continues to face severe challenges in 4Q as the domestic market is not expected to pick up substantially.
This article appeared in The Edge Financial Daily, November 10, 2011.
