Driven by its surging healthcare and hospital services.
The city-state’s largest private healthcare provider banked on the growth of its healthcare and hospital services to post a higher revenue for 2015, growing by 9.6% to $410.5m.
According to a report by OCBC, its healthcare services and hospital services grew by 14.6% and 7%, respectively.
Meanwhile, its continuous expansion of its clinic network led to higher operating lease expenses, while the tihgt labor market for healthcare workers led to surging staff costs.
“As a result, PATMI rose 2.4% to S$69.3m. Excluding fair value gains on investment properties, PATMI was up 4.9% to S$67.8m, meeting 102% of our full year estimate,” OCBC said.
Additionally, the group declared a higher DPS of 4.5 cents, bringing total dividends to 6.0 cents, vs. 5.5 cents last year, OCBC said.
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