Raffles Medical posts 63.8% drop in H2 profit to S$30.3 million; looks to China, Japan growth

RAFFLES Medical Group posted a 63.8 per cent drop in net profit to S$30.3 million for the second half ended Dec 31, 2023, from S$83.7 million in the previous corresponding period.

The group attributed the weaker performance to the discontinuation of Covid-19-related activities in FY2023, it said on Monday (Feb 26).

The results translate to earnings per share (EPS) of 1.63 Singapore cents against EPS of 4.51 cents previously.