Raffles Medical's Q2 earnings edge up

Singapore

SINGAPORE-LISTED Raffles Medical Group achieved a one per cent year-on-year growth in second-quarter revenue to S$120.1 million despite softer-than-expected demand from foreign patients.

But operating profit for the three months ended June 30, 2017, fell 1.9 per cent to S$19.6 million, despite a 7.9 per cent drop in "other" operating expenses to S$7.8 million, due in part to the expansion costs of its flagship hospistal. Still, net profit attributable to equity-holders inched up 0.5 per cent to S$16.8 million. Tax expense was down 13.9 per cent.