Raffles Medical Group profits up 1% to $16.4m in Q3

Revenue from it healthcare services segment offset the growth of the hospital services division.

Raffles Medical Group's (RMG) profits rose 1% YoY to $16.4m in Q3.

According to OCBC Investment Research, revenue rose 0.3% YoY to $119.6m

This was supported by growth in revenue from the hospital services division, which grew 3.1% on the back of an increase in local patient load.

However, revenue from healthcare services division decreased 4.2%, due to the lower renewal of international healthcare plans for expatriates.

OCBC Investment Research said the hospital projects in Chongqing and Shanghai continue to be targeted to be operational by the second half of both 2018 and 2019, respectively.