Raffles Medical Group set to finish year strong after stellar 3Q13

4Q13 expected to be best quarter.

Maybank Kim Eng said Raffles Medical Group should end 2013 on a solid note with the last quarter forecasted to be its best-performing.

"4Q is traditionally RMG’s strongest quarter and we expect this trend to continue in FY13," said Maybank.

The comment came after Raffles Medical Group reported its 3Q13 results which were within Maybank's expectations.

Revenue rose 8.0% YoY to S$85.1m. PATMI was up 10.3% to S$13.9m, Maybank noted, with growth during the quarter was driven largely by a higher patient load.

"Both of RMG’s core divisions contributed to its topline increase, with its Hospital Services and Healthcare Services segments growing 9.4% and 5.7% YoY, respectively. For 9M13, revenue and PATMI increased 10.7% and 14.0% to S$253.0m and S$41.7m, forming 72.8% and 68.7% of our full-year estimates,
respectively," said Maybank.

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