UUE expects resilient year despite weaker 1Q
In a filing with Bursa Malaysia, the company noted revenue for the quarter fell to RM32.4mil from RM38.96mil in the previous corresponding period due to weaker contributions from its core business segments, namely underground utilities engineering solutions and the manufacturing and trading of high-density polyethylene (HDPE) pipes.
Revenue from the underground utilities engineering segment declined to RM28.11mil from RM33.59mil, while the HDPE manufacturing and trading division posted RM4.3mil in revenue, compared with RM5.4mil a year ago.
'The lower revenue was primarily attributable to the slowdown of Singapore projects during the current quarter due to transition to new projects,' the group said.
However, UUE noted that new projects in Singapore had commenced and are expected to contribute to revenue in the coming quarters.
Looking ahead, UUE remains cautiously optimistic about its performance amid concerns over external factors including the United States' recent tariff hikes on goods from the rest of the world.
'Despite a weaker performance in the current quarter compared to the corresponding quarter, the group expects to maintain resilient performance for the rest of the financial year,' it said.
UUE added it would continue to adopt prudent operational and financial strategies to ensure long-term resilience while remaining vigilant to potential market challenges.
Basic earnings per share for the quarter amounted to 0.3 sen. No dividend was declared for the quarter.
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