Feb 25, 2014

    Raffles Med sees 50% jump in profit

    RAFFLES Medical Group yesterday posted a 49.3 per cent jump in net profit attributable to owners of S$84.9 million for the full year ended Dec 31.

    It said that its bottom line was boosted by strong revenue growth, improved operating leverage and operational efficiencies, as well as revaluation gain and the disposal of the subsidiary that owned the property at 30 Bideford Road.

    Excluding the gain of S$20.4 million from the disposal and fair-value gain on investment properties of S$3.9 million, the group's net profit after tax would have risen 14.5 per cent year-on-year to S$61 million, the group added.

    For the year, revenue rose 9.4 per cent to a record S$341 million, helped by contributions from its hospital services and health-care services divisions.

    The company did not provide a separate set of Q4 earnings and turnover.

    It recommends a final dividend of 4 cents per share. Including the 1-cent interim dividend given out last August, the total dividend for the fiscal year 2013 would amount to 5 cents per share, up 0.5 cent or 11.1 per cent from 2012.