UEM Edgenta Bhd posts lower FY15 pre-tax profit of RM305.4 million

UEM Edgenta Bhd posts lower FY15 pre-tax profit of RM305.4 million

KUALA LUMPUR, Feb 29 — UEM Edgenta Bhd posted a lower pre-tax profit of RM305.41 million for the financial year ended Dec 31, 2015 compared with RM324.46 million in 2014.

Revenue, however, was up at RM3.12 billion compared with RM3.09 billion in 2014, the company said in a filing to Bursa Malaysia today.

UEM Edgenta said there was an impairment loss on goodwill of RM36.13 million recognised in the income statement for the current financial year.

For the fourth quarter, pre-tax profit dropped to RM42.65 million from RM126.20 million, while revenue was RM895.25 million versus RM904.40 million.

UEM Edgenta said going forward, its financial performance would be, among others, affected by its Canadian operations that was closely related to oil and gas activities in the region.

Despite the challenging outlook, UEM Edgenta said it is cautiously optimistic of sustaining performance in 2016.

— BERNAMA

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