RMG’s healthcare services division, its core business, recorded a revenue of $283.4 million, down from $445 million in FY2022. Its smaller investment holdings division dipped slightly to $45.2 million in FY2023 from $45.9 million in FY2022.
As flagged by the management, Raffles Medical Group (SGX:BSL
) (RMG) has reported a set of FY2023 ended December 2023 earnings that shows a normalisation of the pandemic highs. Going forward, the company will channel more focus on its overseas expansion.
In FY2023, RMG’s earnings dropped by 37.1% y-o-y to $90.2 million, while revenue was down 14.1% y-o-y to $706.9 million, mainly due to the discontinuance of Covid-19-related activities in FY2023.
