Q&M Dental Group Singapore Ltd: Hurt by upfront and uneven expenses

  • 1H22 revenue and PATMI were 52%/37% of our FY22e forecast.

  • Earnings from COVID-19 PCR tests swung from $3mn net profit a year ago to S$50k net loss.

  • The target price is lowered to S$0.60 (prev. S$0.71).
August 22nd, 2022
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