Q&M Dental Group - Phillip Securities 2023-08-27: Still Filling Up The New Clinics

• Q&M Dental Group (SGX:QC7)'s 1H23 revenue was within expectations, but earnings were below. Revenue and adjusted PATMI were 47%/29% of our FY23e forecast. Post-expansion of clinics, Q&M Dental is facing operating cost pressure such as staff cost, utilities, rent, finance and development expenditure of AI-guided clinical support software.
• - Read this at SGinvestors.io -
• We cut our FY23e PATMI forecast for Q&M Dental by 34% to S$11.9mil. We downgrade Q&M Dental from BUY to ACCUMULATE, with the target price lowered to S$0.34.
• - Read this at SGinvestors.io -

The Positive

Growing the number of dentists.

• Read more at SGinvestors.io.

Above is an excerpt from a report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full PDF report @ https://www.stocksbnb.com/.

Read also Phillip's most recent report:
2026-03-25 Q&M Dental - Establishing An Asia-pacific Dental Franchise.

Previous report by Phillip:
2025-08-20 Q&M Dental - More Growth After The Reorg.

Price targets by 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 Dividend Payout Dates & Corporate Actions,
Q&M Dental News