UEM Edgenta Q4 jumps 19 fold on Opus International disposal gain

PETALING JAYA: UEM Edgenta Bhd fourth quarter ended Dec 31, 2017 net profit jumped 19 fold, on RM271.8 million gain from the disposal of its 61.2% stake in Opus International Consultants Limited (OIC) in early December.
The group made a net profit of RM324.8 million for the quarter under review, compared with RM16.5 million for the same quarter in 2016.
This was on 31% higher revenue of RM672.3 million, compared with RM512.9 million.
The group has announced a special dividend of 18 sen and an interim dividend of five sen for the quarter, bringing total dividend payout for the year to 31 sen.
UEM Edgenta entered into 2018 on a strong financial footing with a healthy balance sheet and lower gearing contributed from the disposal of OIC. The group said it is now aligned and focused in providing three core offerings, namely consultancy, services and Solutions to three key sectors, healthcare, infrastructure and real estate.
Moving forward, UEM Edgenta will continue to focus on operational excellence initiatives to drive better margins and profitability. It will continue to realise synergies from its acquisitions, and deploy technology-based enablers to its customers.
Coupled with the healthy economic outlook for Malaysia, the board of directors is optimistic to achieve positive financial
performance in 2018.
UEM Edgenta made a net profit of RM418.2 million for the 12 month period, compared with RM80.1 million for the full year ended Dec 31, 2016.
This was on 34.3% higher revenue of RM2.1 billion, compared with RM1.6 billion for the same period in 2016.
The stock closed unchanged at RM2.34 with some 53,700 shares changing hands.