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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