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Raffles Medical Group posts 8% rise in Q1 revenue, earnings

Published on Apr 28, 2014 9:44 AM

SINGAPORE - Raffles Medical Group said on Monday its first-quarter net profit rose 8 per cent from a year ago to $14.56 million, driven by higher revenue growth.

Revenue climbed 8 per cent to $87.6 million for the first three months of the year, boosted by more patients as the group's clinic network expanded and it secured more corporate contracts.

The Singapore-listed group also dealt with more healthcare insurance services and added more specialist consultants to its group practice, further lifting revenue, it said.

Raffles Medical remained in a strong cash position, with $98.3 million in its coffers as at March 31.

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