PETALING JAYA: UMW Holdings Bhd
business divisions are set to rebound strongly in financial year (FY) 2021 driven by higher sales volume.
AllianceDBS Research raised its earnings forecast by 7%-10% for financial years (FY) 20-22 on the back of the assumption of higher auto sales and margins.
“We think that the worst is likely over for the group and expect its earnings to pick up in coming quarters, ’’ the research house said.
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