Singapore: Raffles Medical Group records 4.5% growth in Q2

Raffles Medical Group reported a 4.5 per cent growth in net profit on Monday leading to a net profit of S$16.67 million for the second quarter ending on June 30.(ibtimes.sg)

The revenue for the quarter increased 19.8 per cent to S$118.95 million from the S$99.25 million in the previous quarter. Raffles Medical said the revenue from all the divisions contributed positively to the growth. The revenue from both healthcare and hospital services increased by 42.2 per cent and 7.9 per cent respectively.

There are several factors to the strong growth revenue of Raffles Medicals including higher patient load and an expanding Raffles Medical clinic network. The higher revenue contributed by more specialist consultants as well as the newly acquired International SOS (MC Holdings) Pte Ltd and its subsidiaries (MCH) are another important reason for this growth.

If the MCH revenue contribution is excluded, then the group revenue would have grown only by 8.7 per cent. The opening of the new medical centre at Raffles Holland V resulted into a higher staff cost. The directors declared an interim dividend of 0.5 Singapore cent per share will be paid on Aug 31 for the financial year ending on Dec 31.