INTEGRATED healthcare provider Raffles Medical Group on Monday morning posted a 15.6 per cent fall in net profit to S$14.2 million for its second quarter ended June 30, down from S$16.9 million in the year-ago period, due to startup costs at its Chongqing hospital. Read more at The Business Times.
Integrated healthcare provider Raffles Medical Group on Monday morning posted a 15.6 per cent fall in net profit to S$14.2 million for its second quarter ended June 30, down from S$16.9 million in the year-ago period, due to startup costs at its Chongqing hospital.INTEGRATED healthcare provider Raffles Medical Group on Monday morning posted a 15.6 per cent fall in net profit to S$14.2 million for its second quarter ended June 30, down from S$16.
The higher revenue from healthcare services was a result of winning more insurance contracts and corporate clients, while the higher revenue from hospital services was due to patient growth.sentifi.comThe board has declared a dividend of 0.5 Singapore cent per share for the quarter, the same as last year.Gestation losses at Raffles Hospital Chongqing – around S$2.3 million at the earnings before interest, taxes, depreciation and amortisation level – contributed to the drop in Q2 net profit.
Raffles Hospital Chongqing’s management is making “great efforts” to reach out to corporate and private patients of Chongqing, the group added. Since it opened on Jan 2, 2019, the hospital is now operating 24/7.first-quarter net profit had also fallen due to startup costs at the hospitalExcluding the Chongqing hospital’s results, net profit after tax for Q2 would have increased by 0.4 per cent instead of the 15.6 per cent drop, said the company.
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