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Raffles Medical Group's FY2016 earnings edge up to S$70.2m

Revenue rises 15.4% on higher patient load from expanding clinic network, contributions from MCH

Published Mon, Feb 20, 2017 · 09:50 PM

Singapore

HIGHER expenses driven by its expansion weighed down on Raffles Medical Group's full-year earnings, which rose slightly even as revenue grew by double digits.

Net profit for FY2016 edged up 1.3 per cent from FY2015 to S$70.2 million, weighed down by higher consumption of inventories and consumables as sales of medical supplies and services grew.

Growth in revenue was also offset by higher staff costs due to the recruitment of more doctors, specialists, nurses and ancillary staff to cater to…