UMS H1 net profit drops 35% to $19.5m

The decline was due to lower sales.

UMS Holdings (UMS) reported a 35% decline in net profit to $19.5m in H1 2024 as sales softened 29% compared to last year.

Revenue for the period stood at $109.9m despite lower sales and earnings. On a quarterly basis, UMS’ revenue fell 25% year-on-year (YoY) to $56m in Q2 Q024 from $74.4m in Q2 2023.

Semiconductor sales dropped 29% YoY due to weaker global chip demand, whilst the Others segment saw a 7% decline as the general slowdown in Q2 2024 impacted the material and tooling distribution business.

Meanwhile, the Aerospace segment showed a modest growth of 5% amidst sustained recovery in the aerospace industry.

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