UEM Edgenta 4Q net profit jumps 43.5%, declares 8 sen dividend

KUALA LUMPUR (Feb 26): UEM Edgenta Bhd said its fourth quarter net profit grew 43.53% to RM97.49 million, from RM67.92 million a year earlier, thanks to higher revenue and other income. 

Earnings per share for the fourth quarter ended Dec 31, 2019 (4QFY19) rose to 11.72 sen from 8.17 sen previously, the group’s filing with Bursa Malaysia showed. 

UEM Edgenta said its quarterly revenue grew 10.03% to RM712.26 million, from RM647.35 million in 4QFY18, thanks to higher revenue in all three businesses: asset management, infrastructure solutions and property development. 

The group declared a dividend of eight sen per share, bringing its FY19 total to 14 sen per share — unchanged from FY18. 

For FY19 as a whole, UEM Edgenta’s net profit rose 22.47% to RM181.78 million, from RM148.43 million in FY18, as revenue grew 10.47% to RM2.41 billion from RM2.18 billion.

The group said it secured new businesses in the healthcare support division across all regions, and had higher work volume in Malaysia and Indonesia under its infrastructure solutions. The group also sold more property units at its Abu Dhabi project within the period.

On prospects, UEM Edgenta said it expects growth in its healthcare support services, on increasing demand and emergence of new care models beyond traditional hospital settings.

For the infrastructure services division, the group intends to build on their existing projects in Indonesia and East Malaysia for long-term growth opportunities.

Shares of UEM Edgenta rose two sen to RM2.60 today, giving it a market capitalisation of RM2.16 billion.

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