From "Stupid Cheap" to "Stupid Expensive"

Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Equity Bottom-Up

<p>UMP Healthcare's interim results (announcement attached) were in line with the forecasts provided at the time of the IPO:</p><ul>
<li>Revenue + 10.2% to HKD216.5 million (patient visits +6.9%)</li>
<li>Adjusted EBITDA +49% to HKD34.4 million (adjusting for HKD 15 million listing costs, and smaller one-offs)</li>
<li>Adjusted pretax income +16.8% to HKD24.3 million</li>
<li>Adjusted net income +10.8% to HKD19.8 million</li>
<li>Segment operating income of HKD31 million evenly split between the Corporate Healthcare Solution Services and Clinical…</li>
</ul>

UMP Healthcare's interim results (announcement attached) were in line with the forecasts provided at the time of the IPO:
Revenue + 10.2% to HKD216.5 million (patient visits +6.9%)
Adjusted EBITDA +49% to HKD34.4 million (adjusting for HKD 15 million listing costs, and smaller one-offs)
Adjusted pretax income +16.8% to HKD24.3 million
Adjusted net income +10.8% to HKD19.8 million
Segment operating income of HKD31 million evenly split between the Corporate Healthcare Solution Services and Clinical…


UMP Healthcare

No Surprises in Interim Results