Raffles Medical H1 profit rises 4.8% to S$32.1 million

[SINGAPORE] Raffles Medical Group on Monday (Jul 28) posted net profit of S$32.1 million for its first half ended Jun 30, up 4.8 per cent from S$30.6 million in the same period a year prior.

This comes on the back of the healthcare group cementing partnerships with Shanghai’s Renji Hospital in March and Chongqing’s First Affiliated Hospital in June, to build a new model for medical cooperation between Singapore and China.

In the China market, revenue therefore increased marginally to 163.6 million yuan (S$29.3 million) in H1 FY2025 from 162.9 million yuan in H1 FY2024. The Raffles Hospital brand has gained wider recognition among patients in China, reinforcing its position as a trusted healthcare provider, said the company.

Revenue increased 3.5 per cent year on year to S$378.4 million in H1 FY2025, from S$365.7 million in H1 FY2024.

Earnings per share for the period were S$0.0173, up from S$0.0165 in the previous corresponding period.

No interim dividend was declared by the mainboard-listed group.

Cash and cash equivalents stood at S$334.2 million as at Jun 30, an increase from S$316.3 million in the same year-ago period.

Based on current conditions and barring unforeseen circumstances, the board expects the medical group to remain profitable in FY2025.

Dr Loo Choon Yong, executive chairman of Raffles Medical, said: “We are constantly innovating to stay relevant and provide the best care to meet our patients’ evolving health needs. We are well-positioned to extend the Raffles brand of care to more people both locally and across the region, through strategic partnerships and collaboration with leading healthcare experts.”

Shares of Raffles Medical ended Friday 1.9 per cent or S$0.02 higher at S$1.05.