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Uchi Technologies sees double-digit drop in FY20 topline due to Covid-19

26 Mar 2020 / 14:26 H.

PETALING JAYA: Uchi Technologies Bhd expects a low double-digit revenue decline in US dollar term for the financial year ending December 31, 2020 compared to a year ago, as the Covid-19 pandemic has taken a toll on its business operation.

The group told Bursa Malaysia that its customers have lowered their demand.

Uchi is principally involved in original design manufacturing, specialising in the design of electronic control systems. Its net profit came in at RM75.95 million for the financial year ended December 31, 2019 against RM69.01 million a year ago.

The group said it will continue to monitor the developments and take appropriate measures to mitigate any upcoming risks, as well as provide updates on any further developments.

Barring any unforeseen circumstances, it is confident to remain profitable for the current financial year amid these unprecedented challenges.

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