Tuesday, May 01, 2012

Raffles Medical posts net profit of S$11.7m in Q1

SINGAPORE: Raffles Medical Group booked a net profit of S$11.7 million in the first quarter of 2012, up 10.5 per cent on-year.

In a filing with the Singapore Exchange, Raffles Medical said the increase was due to better operating performance, driven by higher patient attendances and patient acuity.

It added that the recruitment of more specialist consultants and a wider range of medical services further contributed to the growth.

Meanwhile, its revenue grew 13.2 per cent from S$64.4 million in Q1 last year to S$72.9 million for the same quarter this year.

Raffles Medical Group said it has a healthy cash position of S$61.1 million as at 31 March 2012.

Despite global economic uncertainties and the weak recovery in the US and Eurozone, Raffles Medical said it still expects to benefit from the strong demand for high quality healthcare services locally and from the region.

- CNA/ck

View the original article here

Source From Channel News Asia

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