Raffles Medical posts 8.1% decline in H2 profit to S$44.7m

RAFFLES Medical Group BSL on Monday (Feb 21) announced that its net profit for the second half ended Dec 31, 2021 has dipped by 8.1 per cent to S$44.7 million, from S$48.6 million in the year-ago period.

This was attributed to higher tax expenses for H2 FY2021, as the period's earnings before interest, taxes, depreciation and amortisation (Ebitda) had grown 4.9 per cent year on year to S$86.1 million from S$82.1 million, and H2 FY2020's Ebitda had included S$9 million in Jobs Support Scheme grants received, which is not subject to tax.

Earnings per share for H2 FY2021 also declined by 9.1 per cent to S$0.0239, from S$0.0263 in H2 FY2020.