For its latest FY2022, RMG continued its growth trajectory despite Covid-19 being a thing of the past. Earnings were 70.5% higher y-o-y at $143.7 million, from $83.7 million a year ago. Dr Loo Choon Yong, executive chairman of RMG, says a large proportion of the growth in FY2022 was thanks to the return of foreign patients visiting RMG’s hospitals.
Within the basket of healthcare stocks listed in Singapore, the ones followed most closely by investors are the large caps that own and operate large hospitals across various markets.
One of the top healthcare stocks to watch is Raffles Medical Group (RMG) (SGX:BSL
) , which operates one of Singapore’s largest private healthcare networks, offering a wide range of services, including specialist consultations, diagnostic imaging and laboratory services. RMG also operates a network of medical clinics, including 68 clinics in Singapore; and hospitals in the city-state and China. The company has grown rapidly in recent years, with revenue increasing from $431 million in FY2016 to $766.5 million in FY2022. RMG’s financial year ends in December.
