Earnings Report /

UG Healthcare Corp: Below book value and earnings stable

  • Glove selling prices fell by around 30% YoY and glove volume sales were flat YoY

  • UGHC can ramp up its trading business to take advantage of these weak prices

  • The target price is pegged to a 30% discount to the Big 4 glove makers, or 5x FY22e PE

Paul Chew
Paul Chew

Head of Research

19 May 2022
Published byPhillipCapital


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