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BRIEF-UMW Holdings Bhd posts quarterly net profit of 20.2 million rgt
May 23, 2017 / 10:26 AM / 4 months ago

BRIEF-UMW Holdings Bhd posts quarterly net profit of 20.2 million rgt

May 23 (Reuters) - UMW Holdings Bhd

* Qtrly net profit 20.2 million rgt

* Qtrly revenue 2.80 billion rgt

* Year-Ago qtrly revenue 2.20 billion rgt; year-ago net profit 16.6 million rgt

* “Financial performance of oil & gas segment in 2017 is expected to remain challenging due to the low time charter rates environment”

* “The group’s performance will still be affected by the downturn in the oil and gas industry until the completion of the exit plan”

* “The outlook for automotive segment is expected to continue to be competitive for 2017”

* “Auto manufacturers and distributors expected to continue experiencing lower margins for rest of year with subdued consumer sentiments & volatility in ringgit” Source text for Eikon: Further company coverage:

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