Corporate results: TIME dotcom, UMW Holdings and UEM Edgenta

TIME’s 2Q net profit up 42% to RM93m 
TIME dotcom Bhd’s net profit rose 42% year-on-year (YoY) to RM93 million in second quarter (2Q) ended June 30 this year on the back of improved cost efficiencies  and a higher share of profit from investment in associates. The telecommunication company told Bursa yesterday its revenue increased 14.8% YoY to RM540 million as higher sales were recorded across all core product segments.

UMW’s 2Q earnings falls to 32% to RM84m
UMW Holdings Bhd’s net profit fell 32% year-on-year (YoY) to RM84 million in second quarter (2Q) ended June 30 this year despite higher revenue recorded from its automotive and manufacturing divisions. Higher interest expenses and lower margins caused the fall in earnings for the quarter. In a filing exchange yesterday, UMW’s revenue rose 6.7% YoY to RM2.96 million supported by higher contribution from manufacturing division. 

UEM Edgenta 2Q earnings rise on healthcare support
UEM Edgenta Bhd’s net profit for the second quarter ended June 30, 2019 (2Q19) rose 2.85% year-on-year (YoY) to RM34.36 million. Earnings per share for the period amounted to 4.13 sen while revenue increased 9% YoY to RM595.42 million on the back of higher contributions from the healthcare support division under its asset management segment. For the cumulative six months, UEM Edgenta’s net profit was up 6.45% YoY to RM67.02 million while revenue climbed 10.36% YoY to RM1.11 billion. The company, in an exchange filing yesterday, declared a six sen interim dividend payable on Oct 31, 2019. UEM Edgenta noted it will focus on operational excellence under its continuous improvement framework as well as roll-out technology and innovation initiatives to improve efficiency and deliver cost savings.