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UG Healthcare's latest expansion expected to drive 2H earnings: RHB

Samantha Chiew
Samantha Chiew3/12/2019 12:26 PM GMT+08  • 2 min read
UG Healthcare's latest expansion expected to drive 2H earnings: RHB
SINGAPORE (Mar 12): RHB is reiterating its “buy” call on UG Healthcare with a target price of 32 cents.
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SINGAPORE (Mar 12): RHB is reiterating its “buy” call on UG Healthcare with a target price of 32 cents.

In a Monday report, analyst Leng Seng Choon says, “After clarifications with management, we remain bullish on UG given its capacity expansion, which will drive volume production and earnings.”

For 2Q19, UG Healthcare recorded earnings of $0.28 million, 73.1% lower than $1.04 million in 2Q18. This was despite a 15.1% y-o-y increase in revenue to $21.1 million, as well as a 74.7% increase in other income to $0.94 million.

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