Core earnings, however, missed Maybank’s forecast by 12% due to higher-than-expected costs, amid integration of mergers and acquisitions (M&As) and spin-off of the group’s subsidiaries.
SINGAPORE (March 6): Maybank Kim Eng Research has downgraded its rating on Q&M Dental from “buy” to “hold”, lowering its target price on the stock to 71 cents from $1 previously on the group’s FY16 core earnings miss.
To recap, Q&M last Wednesday posted full year earnings of $28.3 million, which was more than double as compared to the previous financial year on a one-off gain from its spin-off of Aidite, the group’s manufacturing arm.
