In FY2024, UMS reported 32% y-o-y lower earnings of $40.6 million as the company is still facing labour shortages, which caused the ramp-up of orders to remain challenging, says Seet.
Analysts have upgraded their calls for UMS Integration following clearer signs of an improving outlook, even though its recent FY2024 ended Dec 31, 2024 earnings came in slightly below consensus expectations.
Ling Lee Keng of DBS Group Research, Jarick Seet of Maybank Securities and John Cheong of UOB Kay Hian now rate the company "buy" from "hold".
