- Q&M Dental (SGX:QC7)'s 1H24 results were within expectations. Adjusted PATMI jumped 48% y-o-y to S$8mil. Q&M Dental's interim dividend jumped 150% y-o-y to 0.4 cents. Revenue and adjusted PATMI were 48% and 47% respectively of our FY24e results.
- - Read this at SGinvestors.io -
- Associate Aoxin Q&M also registered a major turnaround in operations from government policies, reduced competition and cost control measures.
- We maintain our BUY recommendation on Q&M Dental with target price of S$0.36. No material changes to our FY24 estimates.
The Positive
Growth in revenue and margins.
- - Read this at SGinvestors.io -
- Growth has been driven by increased revenue intensity or high contribution of complex cases. Gross margins improved by 1% point to 89.1.%.
- Other cost-saving initiatives include lower payment processing and lab fees, and lower EM2AI costs.
The Negative
Falling number of clinics.
- Read more at SGinvestors.io.
Above is the excerpt from report by Phillip Securities Research.
Clients of Phillip Capital may be the first to access the full report in PDF @ https://www.stocksbnb.com/.
Paul Chew Phillip Securities Research | https://www.stocksbnb.com/ 2024-08-29
Previous report by Phillip:
2024-03-18 Q&M Dental Group - Data-driven Treatments Can Commence.
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 Dividends & Corporate Actions,
Q&M Dental News Articles
