KUALA LUMPUR (Sept 6): Industrial equipment distributor UMS Holdings Bhd slipped back into the red in the third quarter ended June 30, 2021 (3QFY21) with a net loss of RM696,000 as MCO 3.0 in June hit sales, the company said.

Revenue sank 15.9% to RM13.94 million from the RM16.58 million registered in the immediate preceding quarter of 2QFY21, when the company made a net profit of RM3.38 million.

The quarterly net loss was narrower than the RM1.21 million it recorded in 3QFY20, when sales were hit by the first MCO in March-May 2020. Revenue rose 45.33% on-year to RM13.94 million from RM9.59 million, as the company was able to operate under the essential industry categorisation during MCO 3.0, with approval from the Ministry of International Trade and Industry (MITI).

With the latest quarterly results, UMS' net profit for the nine months ended June 30, 2021 (9MFY21) came in at RM4.11 million, up 251% from RM1.17 million in 9MFY20.

This however took into account a one-off gain on sale of property of RM3.75 million, the company said. Without the one-off gain, UMS' profit before tax (PBT) for 9MFY21 would be at RM2.15 million — as opposed to RM5.9 million — compared with 9MFY20's PBT of RM1.39 million.

Revenue in the period rose 18.11% on-year to RM49.51 million from RM41.91 million, as sales improved in all segments except for the Sarawak, overseas and Singapore markets.

Shares of UMS rose in the evening session today to close up 27 sen or 11.02% at RM2.72, valuing the group at RM110.68 million.