Raffles Medical Group's profits up 8% to $14.6m

On back of higher revenue.

According to OCBC Investment Research, Raffles Medical Group (RMG) reported its 1Q14 results this morning, with both revenue and PATMI increasing by 8.0% YoY to S$87.6m and S$14.6m, such that topline and bottomline formed 23.0% and 21.4% of OCBC's FY14 forecasts, respectively.

Here's more:

This is within our expectations as 1Q is seasonally RMG’s weakest quarter. On a segmental basis, revenue for RMG’s Healthcare Services and Hospital Services segments grew 14.3% and 4.8% YoY, respectively. This was driven byhigher patient loads, increased volume of healthcare insurance services and the addition of more specialist consultants.

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