Raffles Medical Group

Raffles Medical Group unveiled FY13 results which came in ahead of estimates, fuelled by exceptional items, as net profit surged 49% to $84.9m on a 9.4% rise in revenue to $341.0m. Revenue from Hospital Services and Healthcare Services expanded at 12.4% and 6.2% respectively, as the group continued to grow its revenue from medical services with more specialist consultants, higher patient load and greater patient acuity, increased contributions from overseas operations as well as provision of more healthcare insurance services. Revenue from Investment Holdings was lower in 2013 as the tenancy leases for the property at 30 Bideford Road were progressively ended prior to the disposal of the subsidiary, Raffles Medical Management on 31st Oct’13. Bottom-line was propelled by a more than six-fold jump in Other Operating income to $24.3m, led by a $20.4m gain.