Raffles Medical Group’s PATMI rises slightly by 0.5% YoY to $59.9m in 1H23

Its revenue, however, fell by 9.5% YoY.

Despite a dip in its revenue, Raffles Medical Group still recorded a 0.5% YoY higher profit after tax and minority interests (PATMI) in 1H23 of $59.9m. 

Based on its latest financial statement, the group also recorded a 1.0% YoY higher profit after tax of $60.4m.

Given the higher PATMI, the group also recorded improved Diluted Earnings per Share of $0.0320 (+0.3% YoY).

With more foreigners seeking “quality medical treatment in Singapore,” the group’s Hospital Services segment saw a 5.7% YoY uptick in revenue ($160.4m).

Whilst recording an increase in the Hospital Services segment, the group’s overall revenue still fell by 9.5% YoY in 1H23 to $370.9m.