Q&M Dental - Phillip Securities 2025-08-20: More Growth After The Reorg

• 1H25 results were within expectations. Revenue and adj. PATMI were 47% and 40%, respectively, of our FY25e forecast. Adj. PATMI expanded 4.7% y-o-y to S$8.3mil. Q&M Dental reported a S$4.3mil loss from consolidating Aoxin and EM2AI from an associate. Core dental revenue rose 4% y-o-y to S$87.4mil but offset by S$3mil from cessation of the lab business in Sep24.
• - Read this at SGinvestors.io -
• Q&M Dental opened eight and closed four clinics in Singapore over the past 12 months.

The Positive

Most stable cost.

• - Read this at SGinvestors.io -
• As revenue recovers, there is room for higher operating leverage.

The Negative

Shrinking clinics in Malaysia.

• 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/.

Previous report by Phillip:
2025-03-13 Q&M Dental - Reorganising For Future Growth.

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