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
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.