Stock Name: RafflesMG
Company Name: RAFFLES MEDICAL GROUP LTD
Research House: Kim Eng
Kim Eng Research in an Apr 29 research report says: "First-quarter revenue increased by 14.7% y-o-y to $64.4 million while net profit was up a similar 15.6% y-o-y to $15.6 million. This was spurred by broad-based revenue growth across its healthcare and hospital services divisions, which rose by 14.4% and 15.0%, respectively.
"Net margins held steady at 16.4%, compared to 16.2% a year ago. Revenue was bolstered by the jump in patient load and prices, with patient volume contributing more to the increase. RMG has opened one new clinic this year and plans to open another three in the year.
"We maintain our forecasts and DCF-based target price of $2.80, confident that RMG will be able to meet our full-year FY2011 forecast and report another year of double-digit growth. MAINTAIN BUY."
Company Name: RAFFLES MEDICAL GROUP LTD
Research House: Kim Eng
Kim Eng Research in an Apr 29 research report says: "First-quarter revenue increased by 14.7% y-o-y to $64.4 million while net profit was up a similar 15.6% y-o-y to $15.6 million. This was spurred by broad-based revenue growth across its healthcare and hospital services divisions, which rose by 14.4% and 15.0%, respectively.
"Net margins held steady at 16.4%, compared to 16.2% a year ago. Revenue was bolstered by the jump in patient load and prices, with patient volume contributing more to the increase. RMG has opened one new clinic this year and plans to open another three in the year.
"We maintain our forecasts and DCF-based target price of $2.80, confident that RMG will be able to meet our full-year FY2011 forecast and report another year of double-digit growth. MAINTAIN BUY."
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