Raffles Med’s net profit jumps by 4.5% to $16.7m

On back of higher patient load, clinic network expansion.

The healthcare giant remained in the pink of health in Q2 as its revenue grew by 19.8% yoy to $119m.

According to a report by OCBC, both the Healthcare and Hospital Services divisions saw their segment revenue increased 42.2% and 7.9%, respectively.

“This was driven by higher patient load, expansion of clinic network, increased contribution from more specialist consultants as well as from International SOS (MC Holdings) and its subsidiaries (MCH),” OCBC noted.

However, OCBC added that revenue growth was offset by higher costs such as staff costs due to higher recruitment for the new medical centre at Holland V.

 “As a result, PATMI grew 4.5% to S$16.7m. A DPS of 0.5 S-cents was also declared,” the report added.