Raffles Medical Group's full-year earnings rise 49% to $84.9m

Raffles Medical Group said on Monday that full-year net profit rose 49.3 per cent to $84.9 million.

It cited the strong revenue growth, improved operating leverage and operational efficiencies, and revaluation gains and the disposal of the subsidiary that owned the 30 Bideford Road property.

Revenue for the 12 months to Dec 31 rose 9.4 per cent to $341 million.

Turnover from hospital services and healthcare services expanded, said Raffles Medical in its results announcement.

The company also continued to grow its revenue from medical services with more specialist consultants, higher patient load, increased contributions from overseas operations and the provision of more healthcare insurance services.

Earnings per share for the year was 15.43 cents, up from 10.53 cents.

Net asset value per share was 85.31 cents at Dec 31, from 71.29 cents a year earlier.

"The healthcare landscape will remain competitive with new public and private hospitals being developed in Singapore and the region," said Raffles Medical.

"The more measured pace of economic growth in China and Singapore may have a dampening effect on healthcare demand.

"However, the group will continue to be vigilant and to proactively respond to new opportunities that may arise."

Raffles Medical said its directors are optimistic that the company will continue to grow for this year, barring unforeseen circumstances.

The company declared a final dividend of four cents a share, adding on to the one-cent interim dividend already paid out.

The final dividend for 2012 was 3.5 cents with the interim dividend at one cent per share.