UMW Holdings Bhd posted a pre-tax profit of RM414.154 million for the third quarter ended Sept 30, 2011, up 21.5 per cent from RM340.922 million in the corresponding quarter last year. Its revenue rose to RM3.691 billion from RM3.087 billion.
For the nine months period, its pre-tax profit declined to RM1.066 billion from RM1.088 billion in the same period last year, although revenue rose to RM10.079 billion from RM9.402 billion.
Higher revenue from all four core business segments contributed to the increase in the third quarter, it said in a statement. Swift production recovery from the impact of earthquake and tsunami in Japan had enabled its Automotive and Equipment segments to register a surge in revenue, it said.
Full-quarter revenue generated by its premium jack-up rigs, Naga 2 and Naga 3 coupled with the higher day-rate from its semi-submersible rig, Naga 1, contributed to the higher revenue in the Oil & Gas segment, it said.
Higher sales of both Toyota and Perodua vehicles and favourable exchange rate for the United States dollar resulted in the higher profit contributions from the automotive segment, it said.
Moving forward, it said the flooding in Thailand has not directly affected any of the three Toyota vehicle production plants.
However, vehicle production has been halted since 10th October 2011 due to disruptions in the supply of critical parts by suppliers in Thailand affected by the flooding, it said.
Toyota is doing everything possible within its capability to restore procurement as soon as possible, it added.
This includes procuring substitute parts from affiliates in other countries and carrying out countermeasures on a daily basis. Toyota resumed its plant operations in Thailand on November 21, it said.
UMW Toyota anticipates a temporary lower-than-normal stock level in the last two months of the year as a result of the floods in Thailand.
Despite several challenges to its other segments including manufacturing and engineering, equipment, oil and gas, UMW is of the view that the group’s internal targets for 2011 are achievable.
It declared a second interim single-tier dividend of 27 per cent or 13.5 sen.-- Bernama
For the nine months period, its pre-tax profit declined to RM1.066 billion from RM1.088 billion in the same period last year, although revenue rose to RM10.079 billion from RM9.402 billion.
Higher revenue from all four core business segments contributed to the increase in the third quarter, it said in a statement. Swift production recovery from the impact of earthquake and tsunami in Japan had enabled its Automotive and Equipment segments to register a surge in revenue, it said.
Full-quarter revenue generated by its premium jack-up rigs, Naga 2 and Naga 3 coupled with the higher day-rate from its semi-submersible rig, Naga 1, contributed to the higher revenue in the Oil & Gas segment, it said.
Higher sales of both Toyota and Perodua vehicles and favourable exchange rate for the United States dollar resulted in the higher profit contributions from the automotive segment, it said.
Moving forward, it said the flooding in Thailand has not directly affected any of the three Toyota vehicle production plants.
However, vehicle production has been halted since 10th October 2011 due to disruptions in the supply of critical parts by suppliers in Thailand affected by the flooding, it said.
Toyota is doing everything possible within its capability to restore procurement as soon as possible, it added.
This includes procuring substitute parts from affiliates in other countries and carrying out countermeasures on a daily basis. Toyota resumed its plant operations in Thailand on November 21, it said.
UMW Toyota anticipates a temporary lower-than-normal stock level in the last two months of the year as a result of the floods in Thailand.
Despite several challenges to its other segments including manufacturing and engineering, equipment, oil and gas, UMW is of the view that the group’s internal targets for 2011 are achievable.
It declared a second interim single-tier dividend of 27 per cent or 13.5 sen.-- Bernama
