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Raffles Medical H1 earnings slide to S$30.6 million; chairman says insurance must not become ‘arms war’ between firms

If insurance companies continue trying to outdo each other, the risk pool could become untenable, says the group’s executive chair Loo Choon Yong

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Megan Cheah

Megan Cheah

Published Mon, Jul 29, 2024 · 07:46 AM
    • Raffles Medical's hospital division remains strong, growing its profit after tax by 65 per cent for H1 FY2024.
    • Raffles Medical's hospital division remains strong, growing its profit after tax by 65 per cent for H1 FY2024. PHOTO: BT FILE

    MAINBOARD-LISTED Raffles Medical Group on Monday (Jul 29) reported a net profit of S$30.6 million for the first half ended Jun 30, declining 48.8 per cent from S$59.9 million in the corresponding year-ago period.

    Revenue slid 1.4 per cent year on year to S$365.7 million, from S$370.8 million.

    Earnings per share for the period were S$0.0165, falling 48.8 per cent on the year from S$0.0322 in H1 FY2023. The healthcare group did not declare an interim dividend.

    raffles medical groupFinancial results

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