Raffles Medical's Q2 net profit up 2.2%

Raffles Medical Group reported on Monday that its net profit for the second quarter ended June 30, 2015 rose 2.2 per cent to S$15.9 million, compared to a year ago.

Revenue grew 7.2 per cent to S$99.3 million. Revenue from healthcare services grew by 5.7 per cent and hospital services increased by 6.6 per cent.

The medical group saw a 9.4 per cent rise in staff costs to S$48.5 million. This was in tandem with higher volume of business. It recruited more doctors, specialists, nurses and ancillary staff for new and expanded operations at Raffles Hospital and medical centres at Shaw Centre.

Its board of directors declared an interim ordinary dividend of 1.5 Singapore cents per ordinary share, to be paid on August 31, 2015.