Excluding these items, UMS’s earnings should have been up by 16% y-o-y to $10.8 million.
Mainboard-listed UMS Holdings has posted earnings of $1.3 million for the 4QFY2020 ended December, a 86% plunge from earnings of $9.6 million from a year ago.
The lower earnings was due to a one-off $7 million impairment of goodwill in UMS’s subsidiary Kalf Engineering and investment in its associate company JEP, as well as a $2.5 million share of goodwill impairment in JEP.
