The group announced a proposed bonus share issuance of 1 bonus share for every 5 existing ordinary shares, while an interim dividend of 1 cent was declared in 2QFY2021.
Following Q&M Dental Group’s latest 1HFY2021 ended June results, which recorded a 142% y-o-y increase in earnings of $21.5 million, CGS-CIMB Research is keeping its “add” call on the stock with an unchanged target price of 97 cents.
For the 2QFY2021 period, earnings were 23% higher y-o-y at $8.4 million, with revenue coming in 104% higher y-o-y at $51 million. According to the research house, earnings were in line with estimates, but revenue missed estimates due to lower-than-expected contribution from testing services, but EBIT margins from the medical laboratory & dental equipment segment came in higher than expected at 51%.
