Raffles Medical Group’s PATMI drops 37.1% YoY to $90.2m in FY23

The company attributed the decline to the discontinuance of its COVID-related activities.

The profit after tax and minority interests (PATMI) of Raffles Medical Group dwindled to $90.2m in FY23 on the back of lower revenue.

In FY23, the healthcare provider recorded a $706.9m revenue, a 14.1% drop from FY22.

Raffles Medical attributed its lower PATMI and revenue to the discontinuance of its COVID-related activities.

Given the decline in profit, the company’s diluted earnings per share fell 37.2% YoY to $0.0482.

The company, however, recommended a final core dividend of $0.024 per share, which represents 49.4% of the Group PATMI for FY23.

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Raffles Medical Group

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