UWC records RM24mil profit in Q3, factories running at 60% capacity during lockdown


KUALA LUMPUR: UWC Bhd, an engineering services company, said earnings climbed 57% in the third quarter as the company benefitted from the strong demand for its services from clients in the semiconductor industry and life science sector.

Net profit in the three-month ended April 30 jumped to RM24mil from RM14.6mil a year ago.

Revenue was up at RM71.8mil from RM55.8mil previously.

“The increase was greatly attributed to the Group’s higher degree of involvement in the life science and medical technology industries in the current quarter, as well as the stronger global demand in the semiconductor industry,” UWC said in a filing today.

But the company cautioned that the lockdown imposed by the government since the start of June is likely to impact its results in the last quarter.

UWC said that the company has been categorised as essential services and its facilities are currently operating at 60% of capacity, in line with the government’s order.

“Throughout this challenging period, the Group did not receive any order cancellation,” it said.

“On top of that, enquires kept flowing in from existing and potential customers for both semiconductor and life science industries. The Group also took the necessary preventive measures to minimize the impact caused by Covid-19 during our operations,” it added.

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