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KUALA LUMPUR (Feb 25): UEM Edgenta Bhd’s net profit for the financial year ended Dec 31, 2020 (FY20) dropped to RM13.46 million, compared with RM181.78 million registered in the preceding year.
Revenue slipped to RM2.04 billion from RM2.41 billion previously, the asset management and infrastructure solutions company said in a filing with Bursa Malaysia today.
Excluding the one-off RM50 million impairment undertaken in the first half of FY20 as part of the efforts to restructure and rationalise non-core businesses compounded by the challenging global economy it registered normalised net profit of RM64.9 million.
It said the company’s balance sheet also remained healthy with a low gross gearing ratio of 0.32 times, strong net cash position and a bank balance of RM206.1 million.