ISDN's first-half earnings drop on challenging market conditions

Singapore

ISDN Holdings' net profit nearly halved to S$5.55 million for the six months ended June 30, 2019, down from S$10.08 million a year ago, as revenue contributions came down amid challenging market conditions.

Revenue fell 9.3 per cent year-on-year to S$146.96 million as revenue contributions were muted across its key geographies mainly due to the ongoing trade tensions and cyclical headwinds in the semiconductor industry. The group gets around 70 per cent of its revenue from China.