Commenting on the financial performance Chanaka Yatawara, Chief Executive Officer of UML noted that "UML’s success is due to a number of factors. One of our main strengths is our continuous cost management framework in all our operations. In addition, the group enjoyed success in the market for vehicle permit-holders, we were able to give our customers the best value for money products. We are offering the diesel Montero-sport and the Montero for the permits, after successful negotiations with our principles. We understood early that the permit scheme would be a great opportunity during a time where taxes are extremely high for retail sales, among other challenges. Today these two vehicles we offer have become the most popular options in the market".
He further emphasized that a strategic decision the company had taken a few years ago to minimize the impact from various macro-economic factors that affect the industry had paid off. "Today we have products for almost every application and requirement," Yatawara said.
In support of this point, the group’s provisional financial statement revealed an impressive contribution to its bottom-line from Unimo Enterprises Ltd and Orient Motor Company Ltd which are both fully owned subsidiaries of UML, marketing brands such as Perodua, and Chinese brands, namely JMC, Zotye and DFSK.
The group’s earnings per share for the year under review was Rs. 29.92 which was a 12% drop from Rs. 33.91 achieved last year. The strong balance sheet is reflected in the 109.57 NAV per share achieved as at 31st March 2013.
"United Motors Group is looking ahead to exciting new possibilities in the year ahead with launches of several new products during the course of the year. It has partnerships with some of the world renowned brands, including Mitsubishi passenger and Fuso commercial vehicles from Japan, Perodua compact cars from Malaysia, JMC commercial vehicles, DFSK mini trucks and Zotye compact SUVs from China, Yokohama tyres from Japan, JK tyres and Mak lubricants from India, Valvoline lubricants and Eagle One car care products from the US, and TVS motorcycles and three-wheelers from India."