“Despite fewer clinics, revenue expanded from higher revenue per patient. Using data driven treatment, Q&M can ascertain and provide a more intensive treatment for patients. Margins recovered from operating leverage and a stable number of staff or nurses,” he writes.
PhillipCapital analyst Paul Chew has upgraded his call on Q&M to “buy” from “accumulate” as the company’s adjusted patmi for the FY2023 ended Dec 31, 2023, exceeded expectations at 121% of Chew’s forecasts.
In his March 18 report, Chew likes Q&M’s recovery in revenue and margins, noting that its revenue growth for the 2HFY2023 is the fastest over the past two years.
