UMS’s earnings stood in line with UOB Kay Hian and Maybank’s expectations; it stood above CGS-CIMB’s full-year estimates while coming in below DBS’s expectations.
Analysts from UOB Kay Hian, CGS-CIMB Research, Maybank Securities and DBS Group Research are keeping their “add” and “buy” calls after UMS reported a quarterly improvement for its set of results for the 3QFY2023 ended Sept 30.
For the 3QFY2023, UMS reported earnings of $15 million, 64% lower y-o-y and 32% higher q-o-q. 9MFY2023 earnings fell by 46% y-o-y to $44 million. The group has also kept its interim dividend of 1.2 cents during the period. The dividend was raised from 1 cent to 1.2 cents in the 2QFY2023.
