Raffles Medical Group Q1 profit up 8%

RAFFLES Medical Group (RMG) posted an 8 per cent year-on-year increase in net profit to $14.56 million in its fiscal first quarter, as revenues received a boost from a bigger patient load, new specialists and a higher volume of healthcare insurance services.

Revenue also increased 8 per cent to $87.55 million for the three months ended March 31, 2014.

Earnings per share were 2.63 cents, up from 2.47 cents a year earlier. Operating profit increased 6 per cent to $17.2 million.