UMS net profits shoot up 59% to $57.6m

Net profit attributable to shareholders is at an all-time high of $53.1m.

UMS Holdings' net profit shot up 59% to $57.6m, with the group saying it delivered a 'record-breaking' performance for the year ended 31 December 2021 (FY 2021).

Net profit attributable to shareholders soared 46% to touch an all-time high of $53.1m. This performance was driven by the sustained acceleration of global chip demand as well as the increasing capital expenditure of semiconductor fabs worldwide.

“The Group achieved exponential growth in FY 2021 riding on pandemic-driven opportunities that are transforming the global digital landscape. This demonstrates UMS's operational resilience and its ability to meet the surge in customer demands overcoming tough operational issues such as supply chain disruptions, and severe manpower crunch. Even with unprecedented tax provisions, we were able to hit record cash levels and deliver improved returns to shareholders," said Chairman and CEO Andy Luong.

The group's order forecasts remain strong as its key customer has recently given positive guidance for FY 2022. The strong momentum for its semiconductor systems continue to increase and it expects this strength to sustain into 2022.