UMS Holdings on Tuesday recorded a first-quarter rise in net profit of 53 per cent to S$10.7 million, boosted by better performance in its core business of manufacturing high precision front-end semiconductor components. Read more at The Business Times.
UMS Holdings on Tuesday recorded a first-quarter rise in net profit of 53 per cent to S$10.7 million, boosted by better performance in its core business of manufacturing high precision front-end semiconductor components.
The mainboard-listed company also announced an interim dividend of one Singapore cent per share for the quarter ended March 31. UMS chairman and chief executive Andy Luong said: “The group's first-quarter performance demonstrates the robust improvement in customer demand. The higher profitability and healthy cash flow reflect our strategic focus in driving value for our shareholders, even during tough times."
But he warned that the strong start to the year may now be"moderated" by market uncertainty from the ongoing coronavirus outbreak. In addition, the group expects some challenges in the near term due to supply-chain disruptions, manpower constraints and other issues rising from the virus outbreak. To cope with the impact of the pandemic, Mr Luong said UMS will"sharpen its production efficiencies and supply networks".
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