Raffles Medical Group's Q3 net profit up 11.3%

RAFFLES Medical Group's net profit for the third quarter ended September rose 11.3 per cent, from S$13.87 million to S$15.43 million, on the back of an 11.1 per cent growth in revenue from S$85.05 million to S$94.49 million.

Revenue from its health care services segment grew by 16.4 in Q3 2014, driven by a higher patient load, an expanding RafflesMedical clinic network as well as contributions from an increased provision of health care insurance services.

Hospital services revenue increased by 7.3 per cent with the addition of new specialists to the group and higher inpatient admissions over the corresponding period last year.

The group had a healthy cash position of S$124.5 million as at Sept 30. This was after accounting for investment of S$10.4 million in capital expenditure for business expansion as well as the distribution of interim dividends of S$8.5 million to shareholders during the quarter under review.

Looking forward, the group said it is monitoring the market conditions in China and Hong Kong, and will continue to be vigilant and responsive to new opportunities that may arise both regionally and globally.