Brokers' take

Health Management International | Add Target price: S$0.79 Aug 29 close: S$0.615 CGS-CIMB, Aug 28

Health Management International (HMI) reported Q4 FY2018 core Patmi (profit after tax and minority interests) of RM15.9 million (S$5.28 million), up 51.5 per cent year on year and 2.9 per cent quarter on quarter despite seasonality weakness.

Its FY2018 core Patmi of RM62.8 million was 7 per cent above our/consensus full-year forecasts due to better margins; excluding the minority interests' consolidation last year, FY2018 core net profit grew 15.9 per cent yoy, on the back of 7.3 per cent topline growth and 2.4 percentage points of Ebitda (earnings before interest, taxes, depreciation and amortisation) margin expansion.