Raffles Medical Q2 profit up 0.8% at S$16.9m

Singapore

RAFFLES Medical Group recorded nearly flat growth in its net profit for its second quarter, while revenue stayed steady.

Net profit crept up 0.8 per cent to S$16.9 million from the previous year. For the three months ended June 30, revenue crept up 0.1 per cent to S$120.2 million from the preceding year, as revenue for its healthcare services division increased by 5.4 per cent, offset by a decrease of 2.3 per cent in the hospital services division.

"The increase in revenue from healthcare services division was contributed by the addition of new corporate clients, and a new contract, awarded by the Ministry of Health and Civil Aviation Authority of Singapore, to provide A…