Raffles Medical H1 profit surges 54.4%

Patient numbers had increased on the back of recovering medical tourism.

Raffles Medical reported a profit after tax increase of 54.4% amounting to $60m, on the back of returning local and international patients seeking treatment in Singapore

ALSO READ: Raffles Medical set to profit from the opening of SIngapore’s borders - RHB

The group said that with the resumption of air travel and relaxation of COVID-19-related travel protocols, the group’s revenue from its Healthcare division grew by 24.1% to $255.6m.

The group’s earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 43.5% from $74.5m in H1 2021 to $107m in H1 2022. Profit After Tax and Minority Interests (PATMI) grew 51.3% to $59.7m in H1 2022 from $39.4m last year. Revenue for H1 grew by 11.2% to $382.3m.

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