Stock Name: KPJ
Company Name: KPJ HEALTHCARE BHD
Results within expectation. KPJ's reported FY11 revenue and net profit of RM1,891.3m (+14.3% YoY) and RM131.7m (+10.8% YoY) were in line with net profit making up 102% of our forecast. Revenue growth was driven mainly by higher revenue intensity and patient volume. Operating margin also trended higher to 9.2%, from 8.7% in 2010. Final dividends are yet to be declared, but we expect total net dividends of 10 sen for FY11. Maintain Hold and target price of RM5.10.
Maybank Research 27 Feb 2012
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Company Name: KPJ HEALTHCARE BHD
| Research House: MAYBANK | Price Call: HOLD | Target Price: 5.10 |
Results within expectation. KPJ's reported FY11 revenue and net profit of RM1,891.3m (+14.3% YoY) and RM131.7m (+10.8% YoY) were in line with net profit making up 102% of our forecast. Revenue growth was driven mainly by higher revenue intensity and patient volume. Operating margin also trended higher to 9.2%, from 8.7% in 2010. Final dividends are yet to be declared, but we expect total net dividends of 10 sen for FY11. Maintain Hold and target price of RM5.10.
Maybank Research 27 Feb 2012
Click here for full report
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