Raffles Medical Group profits down 15.8% to $13.64m in Q3

Gestation losses from Raffles Hospital Chongqing dragged down profits.

Raffles Medical Group's net profit after tax fell 15.8% YoY to $13.64m in Q3, the company announced. Its revenue rose 7.8% to $130.5m over the same period, with that of the healthcare services division and hospital services division climbing 9.5% and 7.0% respectively.

The Group’s earnings before interest, depreciation and amortisation (EBITDA) grew 1.4% to $24.3m in the same quarter.

The decline in profits was attributed to gestation losses by Raffles Hospital Chongqing. Excluding it, the group's net profit would have grown 4.8%.

In contrast, the revenue growth from Healthcare Services division came from securing more insurance contracts and corporate clients, whilst the Hospital Services division saw an increase in patient load.

OCBC Investment Research's outlook for the group in the near term is subdued. "Whilst we see growth potential from its expansion plans in China over the medium term, near term catalysts appear limited given gestation time required for ramping up its new facilities in China," its research team wrote.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia