UMW Holdings Bhd’s net profit for its fourth quarter ended Dec 31 fell 16.7% to RM99.75mil from RM119.69mil in the previous corresponding period as its associate companies overseas were hit by the weak demand for oil and gas (O&G) pipes.
Its revenue however, rose to RM2.97bil from RM2.89bil previously due to higher sales of Toyota vehicles and automotive parts.
UMW told Bursa Malaysia yesterday the continued economic recovery and improved consumer confidence resulted in higher vehicle sales by the automotive segment.
Basic earnings per share for the fourth quarter fell to 9.04 sen from 11.06 sen previously. UMW proposed a dividend of nine sen per share compared with 12 sen a year ago.
For its financial year ended Dec 31 (FY09), net profit fell to RM371.08mil from RM565.84mil previously while revenue dipped to RM10.7bil from RM12.77bil.
“Generally, the global recession adversely affected demand for our products and services although sales had gradually picked up during the second half of 2009.
