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IHH Healthcare still a promising 'buy' after 2H earnings disappointment, says CGS-CIMB

Michelle Zhu
Michelle Zhu8/29/2018 03:17 PM GMT+08  • 2 min read
IHH Healthcare still a promising 'buy' after 2H earnings disappointment, says CGS-CIMB
SINGAPORE (Aug 29): CGS-CIMB Research is maintaining its “add” recommendation on IHH Healthcare with a lower target price of RM6.63 ($2.21) compared to RM6.86 previously, even as the dual-listed Malaysian private healthcare operator’s 2H18 results m
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SINGAPORE (Aug 29): CGS-CIMB Research is maintaining its “add” recommendation on IHH Healthcare with a lower target price of RM6.63 ($2.21) compared to RM6.86 previously, even as the dual-listed Malaysian private healthcare operator’s 2H18 results missed expectations slightly.

This comes after IHH Healthcare reported 48% lower 2Q18 earnings of RM165.11 million from a year ago in the absence of a one-off divestment gain related to Apollo Hospitals which was recorded in 2Q17.

In a Wednesday report, analyst Ngoh Yi Sin notes that the group saw a comparatively stronger 2Q18 in terms of core PATMI, which would have been RM257 million or 198% higher y-o-y if not for exceptional items.

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