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Raffles Medical’s FY16 earnings rise 1.3% to $70.2 mil on higher revenue

Michelle Zhu Published on Mon, Feb 20, 2017 / 7:37 AM GMT+8

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SINGAPORE (Feb 20): Raffles Medical Group reported earnings of $70.2 million for the full year ended Dec 31, 1.3% higher than the $69.3 million it posted in FY15.

Group revenue grew 15.4% to a record $473.6 million from $410.5 million a year ago on the back of positive contributions from all divisions.

This was largely driven by higher patient load from the group’s expanding Raffles Medical clinic network, as higher revenue came from more specialist consultants as well as full year contributions from the group’s newly acquired International SOS (MC Holdings) and its subsidiaries.