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HEALTHCARE | Staff Reporter, Singapore

Raffles Medical FY 2017 profits up 0.8% to $70.7m

Investment Holdings and Hospital Services expansion drive the growth.

Raffles Medical’s profit for full year 2017 expanded by 0.8% year-on-year (yoy) to $70.7m, which was pushed by growth in their Investment Holdings and Hospital Services divisions.

The company’s Investment Holdings segment grew by 21.1% contributed by higher income from the fully leased space at Raffles Holland V, whilst its Hospital Services area increased by 2.3% due to growth in the number of local patient loads.

Raffles Medical expanded its network of clinics in 2017 with the opening of new clinics at Changi Airport Terminal 4 and Transit 4 in the fourth quarter, two new in-house clinics in Dover and Tampines opened in August, and the re-launched of its clinic in Northpoint City after the mall’s retrofitting.

Meanwhile, the company’s hospital in Chongqing, China is expected to be completed on the second half of this year.

The directors recommended a final dividend of 1.75 cents, including an interim dividend of 0.5 cent per share paid last August. The total dividend for FY 2017 will be 2.25 cents per share, up by 12.5% yoy.

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