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Qualitas Medical Group reports 1HFY09 Results (04 Aug 09)

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  • Revenue: +6.5%
  • Net Profit: +0.7%
  • Outlook: Despite the downturn, the Group expects the healthcare industry, barring any unforeseen circumstances, to be resilient and its business to be stable given the demand for primary healthcare in the country.
  • In Malaysia, the Group will continue to identify suitable clinics for acquisition and strategic partners so as to provide comprehensive primary healthcare coverage for its corporate clients as well as walk-in patients.
  • In Southern India, the Group will continue to look for suitable diagnostic centers to partner with and to complement its existing network of one diagnostic center and five dental clinics in Chennai owned by V.V Dentistree India Private Limited of which it acquired a 40% equity stake recently.
  • In Indonesia, the Group has ceased operations of the managed clinic given continued losses.
  • Nevertheless, the Group shall continue to look out for suitable partners given the recent development in the Indonesian economy which should translate to demand for primary healthcare.
  • As on 30 June 2009, the Group has ventured into New Zealand, a new geographical market for the Group, with the acquisition of a 48% shareholding in a primary healthcare group, Peak Primary Limited.
  • The Group will continue to identify suitable acquisitions in primary healthcare businesses in other regions to complement its existing network.
FINANCIAL RECORDS

Revenue (MYR '000)

FY 1H 2H Total
2009 32,266
2008 30,293 31,879 62,172
2007 28,743 28,933 57,676
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Earnings (MYR '000)

FY 1H 2H Total
2009 3,029
2008 3,009 3,169 6,178
2007 3,741 2,681 6,422
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Dividends

FY Interim Final Special (SGD)
2009 NA
2008 NA 0.01 NA
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Bonus / Rights / Stock Split

Date Type Details
NA
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Share Data (MYR)

NAV = $0.479
EPS = $0.0225 (6M FY09)
No of Shares = 134,684,221
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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