RafflesMed – AmFraser
RMG’S Q2 NET GAIN UP 6.8% TO $12.4M
Raffles Medical Group posted a 6.8 per cent year‐on‐year increase in net profit to $12.42 million for the second quarter to June 30 as revenue rose 14.9 per cent to $76.9 million.
Second‐quarter results were boosted by stronger contributions from both its hospital and healthcare services business segments. Earnings per share worked out to 2.31 cents in Q2FY12, up from 2.20 cents in Q2FY11.
The second quarter saw staff costs rising 19.1 per cent to $37.8 million as the group bumped up headcount by 13‐14 per cent to meet expansion needs and also adjusted wages in line with the industry.
For the six months ended June 30, net profit came in 8.7 per cent higher at $24.04 million while revenue climbed 14 per cent to $149.85 million. The group declared an interim dividend of one cent, payable on Aug 31.
Growth at Raffles Hospital is being driven by a number of factors, including a widening foreign pa