Q&M Dental Group - CGS-CIMB Research 2022-02-24: A Record Year Despite 4Q21 Miss

Q&M Dental Group - A Record Year Despite 4Q21 Miss

Q & M DENTAL GROUP (S) LIMITED (SGX:QC7) | SGinvestors.ioQ & M DENTAL GROUP (S) LIMITED (SGX:QC7)
  • Q&M Dental Group (SGX:QC7)'s 4Q21 net profit of S$3.2m was below expectations on higher staff (+21% y-o-y) and tax expenses (+98% y-o-y). Core dental revenue was strong as expected.
  • Accelerated outlet expansion in FY21 should underpin 24% dental revenue y-o-y growth in FY22F. Rollout of non-COVID PCR services could be a catalyst.
  • Q&M Dental's dividend yield and ROE notably higher than peers. Valuations attractive at -1 standard deviation of historical mean P/E.
  • Reiterate ADD call on Q&M Dental with an unchanged target price of S$0.79.





Above is the excerpt from research report by CGS-CIMB.
Clients of CGS-CIMB may access the full report in PDF @ https://www.itradecimb.com.sg/.




TAY Wee Kuang CGS-CIMB Research | Kenneth TAN CGS-CIMB Research | https://www.cgs-cimb.com 2022-02-24



Read also CGS-CIMB's most recent report:
2022-11-14 Q&M Dental Group - Dental Core Revenue Growth Commendable.

Previous report by CGS-CIMB:
2022-10-12 Q&M Dental Group - Tender Win Alleviates Short-Term Pressure.

Price targets by 2 other brokers at Q&M Dental Target Prices.
Listing of research reports at Q&M Dental Analyst Reports.

Relevant links:
Q&M Dental Share Price History,
Q&M Dental Announcements,
Q&M Dental Dividends & Corporate Actions,
Q&M Dental News Articles















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