Near-term growth may be uninspiring for Health Management International but long-term growth is on track

SINGAPORE (Feb 13): UOB Kay Hian is maintaining its “buy” call on Health Management International (HMI) with a target price of 73 cents.

This came on the back of the group announcing its 2Q19 results, which saw earnings drop by 28% y-o-y to RM11.3 million ($3.76 million), despite an 11% increase in turnover. The decline in earnings was mainly due to higher distribution and marketing costs, administrative costs, as well as foreign exchange losses.

See: Health Management Int posts 28% decline in 2Q earnings to $3.76 mil on higher costs

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