Maybank Investment Bank Research said KPJ Healthcare Bhd’s first quarter results were “in line” but its interest cost is rising.
“Recovery in patient figures and higher occupancy rates at its Malaysian and Indonesian hospitals continue to support growth in earnings. However, increasing interest cost and losses from the Australian aged-care business could present downside risk to earnings. Maintain hold with an unchanged target price of RM4.60,” Maybank said.
The research house said KPJ’s first quarter core net profit of RM40mil represents 27%/26% of the house and consensus FY16 forecasts respectively.
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“Recovery in patient figures and higher occupancy rates at its Malaysian and Indonesian hospitals continue to support growth in earnings. However, increasing interest cost and losses from the Australian aged-care business could present downside risk to earnings. Maintain hold with an unchanged target price of RM4.60,” Maybank said.
The research house said KPJ’s first quarter core net profit of RM40mil represents 27%/26% of the house and consensus FY16 forecasts respectively.
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