Raffles Medical's profit from operations jumped 17.5% to $17.6m

It's been a fairly good quarter.

According to CIMB, revenue growth was led by a higher patient load and the addition of specialist consultants who expanded the depth and breadth of its medical services.

Profit from operations increased to S$17.6m (+17.5% yoy) in 2Q13 and S$33.9m (+16.6% yoy) in 1H13. Core EPS growth in 2Q13 (+13.6% yoy) and 1H13 (+13.7% yoy) testified to the waning of cost pressures in the industry.

Here's more from CIMB:

To recap, FY12’s healthcare manpower costs jumped from industry-wide salary adjustments, as well as higher other operating costs.

At its flagship Raffles Hospital, the group brought in new specialists in Endocrinology, Radiology and Orthopaedics in 2Q13. Its Raffles Neuroscience Centre was also expanded to include specialists in neurosurgery and interventional neuroradiology, to treat cond itions and diseases affecting the nervous system more comprehensively

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