The analyst notes that revenue rose 6.6% y-o-y to $183 million for the second half on the back of topline contribution of $50.4 million from the Vietnam hospital, which provides a “strong addition”.
Maybank Securities’ Eric Ong has lowered his target price for Thomson Medical Group (SGX:A50
) from 8 cents to 6 cents, following the group’s FY2024 results ended June which saw a 57.8% y-o-y lower earnings of $15.4 million.
However, Ong has kept his “buy” call on the healthcare group. The analyst says that the group’s headline patmi of $13.4 million for the 2HFY2024 came in below his projections mainly due to higher-than-expected opex and finance costs. The higher-than-expected costs came after the group completed its acquisition of FV Hospital in Vietnam in January.
