Raffles Medical Q3 net up 10.3% at $13.87m

BOOSTED by a higher patient load and improved operating efficiencies, Raffles Medical Group's net profit for the third quarter ended Sept 30, 2013, rose 10.3 per cent year-on-year to $13.87 million.

Revenue climbed 8 per cent to $85.05 million as both its hospital services and healthcare services divisions recorded higher revenues, up 9.4 per cent and 5.7 per cent, respectively. Earnings per share for the quarter were 2.51 cents, up from 2.31 cents in the corresponding quarter a year ago.

Staff costs increased 8.3 per cent to $42.2 million but stronger revenue contributions from a higher patient load and improved operating efficiencies boosted operating profit by 11.2 per cent to $16.8 million.