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SAC Capital upgrades UMS Holdings to ‘buy’ upon positive 1QFY2022 results

Chloe Lim
Chloe Lim6/3/2022 11:17 AM GMT+08  • 3 min read
SAC Capital upgrades UMS Holdings to ‘buy’ upon positive 1QFY2022 results
UMS’s net profit for the 1QFY2022 increased by 26% y-o-y to $19.4 million. Photo: Albert Chua/The Edge Singapore
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SAC Capital analyst Lim Shu Rong has upgraded UMS Holdings to “buy” with an increased target price of $1.55 from $1.39 after the company’s results for the 1QFY2022 ended March exceeded her expectations.

For the quarter, UMS’s revenue rose 71% y-o-y to $84.7 million, which stood at 28% of Lim’s full-year estimates.

UMS’s net profit for the 1QFY2022 increased by 26% y-o-y to $19.4 million, which stood at 34% of her full-year estimates.

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