- UMS (SGX:558)'s 3Q23 revenue fell 29% y-o-y (due to the slowdown in the semicon industry) to S$71.3m, in line with our S$72.7m forecast. 9M23 revenue formed 72.5%/71.6% of our/Bloomberg consensus’ full-year forecasts.
- - Read this at SGinvestors.io -
- The aerospace segment benefitted from the recovery in global travel and saw a 41% y-o-y growth in 9M23 revenue.
3Q23 net profit above our expectations
- UMS's 3Q23 net profit of S$15.4m (-64% y-o-y, +32% q-o-q) was above our S$12.2m expectation, due to better cost controls and lower tax rate. 9M23 net profit was above our expectations, at 76.7% of our FY23F forecast (71.4% of Bloomberg consensus’).
- An interim dividend of 1.20 cents was declared, in line with our expectation. See UMS's dividend dates.
Raising FY23F EPS forecast by 4.0%
- - Read this at SGinvestors.io -
- See UMS's announcement dated 10 Nov 2023. In its 3Q23 results press release, UMS commented that its performance in the coming months would be supported by the optimistic guidance of some major semiconductor equipment makers, including
- Read more at SGinvestors.io.
Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.
William TNG CFA CGS-CIMB Research | https://www.cgs-cimb.com 2023-11-13
Read also CGS-CIMB's most recent report:
2024-02-05 UMS Holdings - A Timely Placement.Price targets by other brokers at UMS Target Prices.
Listing of research reports at UMS Analyst Reports.
Relevant links:
UMS Share Price History,
UMS Announcements,
UMS Dividends & Corporate Actions,
UMS News Articles
