Page 25 - Annual Report 2021
P. 25
Business Review
Amidst the volatility and uncertainty presented by the COVID-19 pandemic and its attendant risks, the Group recorded an
improved financial performance for the year under review.
Overall, the Group achieved marked increases across the key financial indicators of profits, assets and cashflows.
The improved performance can be attributed to better performance by healthcare, education and plantation divisions.
Going forward, the Group intends to optimise the performance of other subsidiaries to diversify revenue streams while
better managing our financial risks.
grOuP Financial PErFOrMancE
grOuP incOME
audited audited
2021 2020 Variance
rM’ 000 rM’ 000 (%)
Revenue 241,557 214,979 12.4
EBITDA 28,144 20,859 34.9
Profit Before Tax 25,033 17,829 40.4
Taxation (6,055) (5,505) 10.0
Profit After Tax 18,978 12,324 54.0
EBITDA Margin 11.6% 9.7% 19.6
PBT Margin 10.3% 8.3% 24.1
PAT Margin 7.9% 5.7% 38.6
Group revenue increased by 12.4% to RM241.6m for the year ended 31 December 2021 (2020: RM215.0m). The increase
in revenue of RM26.6m was attributed to a stronger performance at subsidiary level, namely UMSC, UM Pharmauji
(UMPharma), IUMW and UM Plantations (UMPlantations).
• UMSC revenue increased by RM12.4m, mainly due to the increase in inpatient, outpatient and DSU (day surgery unit)
revenue.
• UMPharma generated revenue of RM8.1m as it recognized licensing fees derived from commercialisation activity with
Aurigene Discovery Technologies (Malaysia) Sdn Bhd.
• IUMW registered a higher profit before tax of RM1.9m (2020: RM0.9m) due to higher number of new students and
significant reduction in cost of sales and operating expenses by RM2.7m.
• UMPlantations recorded higher revenue of RM6.0m due to a change in its role from estate management services to oil
palm plantation operator.
The Group recorded a better PBT Margin of 10.3% in 2021 (2020: 8.3%), which was mainly attributed to additional revenue
generated by UMPharma and UMPlant and significant reduction in costs by IUMW. Likewise, PAT also recorded a better
margin of 7.9% (2020: 5.7%).
Annual Report 2021 25
