, Singapore

After mitigating cost pressures, Raffles Medical records 62.1% net profit growth

One of the biggest medical groups posted a net profit of $38.3m.

Raffles Medical Group, a private healthcare, recorded a $38.3m net profit in the third quarter (Q3) of 2022, a 62.1% increase from the same period last year.

The profit after tax for year-to-date in September this year went up to 57.3% to $98.2m.

For revenue, it grew 6.5% to $199.5m in Q3 2022. For the year-to-date September 2022, the revenue was $581.8 million, which went up 9.6% YoY.

The medical group said it mitigated cost pressures and deployment of manpower, "together with lower inventories and consumables used and reduction in purchased and contracted services."

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