Raffles Medical Q1 profit up 1.7% on new contract, hospital load growth

Singapore

RAFFLES Medical Group's net profit grew by 1.7 per cent to S$15.81 million for the first quarter of 2018, helped by an increase in local patient load as well as a new border screening contract.

However, profit was offset by higher expenditure in inventories, depreciation and staff costs due to the expansion of medical centres and beds to meet growing patient needs.