ISDN Holdings posts lower 1H19 net profit of S$5.55m

ISDN Holdings' net profit nearly halved to S$5.55 million for the six months ended June 30, down from S$10.07 million a year ago.

Revenue fell 9.3 per cent year-on-year to S$146.96 million, mainly due to the ongoing trade tensions and cyclical headwinds in the semiconductor industry.

ISDN said that market conditions remained challenging as the ongoing trade war and market uncertainties have affected growth momentum in China.

It added: "The group will continue to diversify its base of customers, end-industries and geographies it operates in, while exploring the latest smart manufacturing solutions as ISDN moves up the value chain."

Nonetheless, it expects its core motion-control solutions to continue to deliver long-term sustainable growth as more traditional markets turn to high-tech precision control systems and technology, supplemented by growth in its customer base.

ISDN shares closed unchanged at 21.5 Singapore cents on Friday.