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CGS-CIMB keeps ‘add’ on Q&M Dental as part of managing post-Covid-19 growth expectations

Chloe Lim
Chloe Lim5/17/2022 04:54 PM GMT+08  • 3 min read
CGS-CIMB keeps ‘add’ on Q&M Dental as part of managing post-Covid-19 growth expectations
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CGS-CIMB Research analysts Tay Wee Kuang and Kenneth Tan have kept an “add” rating on Q&M Dental with a lowered target price of 73 cents from 79 cents.

Q&M saw its revenue and core net profit grow 6.9% and 28.3% y-o-y in 1QFY2022 ended March, estimated to be driven entirely by its diagnostics business of Covid-19 testing, compared to the lower intensity of the segment a year ago.

On the other hand, revenue from its dental and medical clinics fell 1.6% y-o-y to $38.6 million despite operating 19 more dental clinics compared to a year ago.

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