Raffles Medical Group pulls in $56.8 million full year profit

A HIGHER patient load, together with an improved and increased range of medical services, has helped boost full year profits for Raffles Medical Group by 12.8 per cent to $56.8 million.

The private healthcare operater's revenue for the year ended Dec 31 jumped 14.2 per cent to $311.6 million.

Raffles medical said the better set of figures came despite increases in healthcare manpower costs owing to industry-wide salary adjustments and other higher operating costs.

In the past 12 months, overseas patient numbers from international insurance companies, medical assistance organisations and the group's other partners have grown.

More specialist consultants were also added in various healthcare fields such as radiology, nuclear medicine, haematology, medical oncology, neurosurgery and neurology.

The addition of these consulatnts has helped expand the depth and breadth of medical services provided by the group.

Full year earnings per share rose to 10.53 cents from 9.5 cents. Net asset value per share as at Dec 31 was 71.29 cents, up from 62.51 cents a year earlier.

A final dividend of 3.5 cents per share has been proposed.