No near-term improvements in sight.
Engineering group UMS announced a poor set for results for 2Q14 with 8% year on year decline in profits on the back of a 13% decline in revenue.
RHB reported that the group guided a poor outlook for the next quarter, a period where its customers are typically at the lowest.
UMS expects demands to pick up in 4Q, however, but RHB adds that it is highly unlikely for the stellar FY13 results to be repeated this year.
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