Raffles Medical's earnings rose 1.2% to $15.6 million in the third quarter ended Sept 30, 2015, from $15.4 million a year ago.
Its operating profit also increased 2% to $18.5 million from $18.2 million a year ago due to strong performance from its hospital service division. This was despite incurring higher depreciation and operating lease expenses.
Revenue rose 7.4% to $101.5 million from $94.5 million previously.
This came on higher revenue contribution from the hospital services and healthcare services divisions, up 11.7% and 3.5% respectively, says the healthcare services group.
Raffles Medical says it expects to benefit from the acquisition for International SOS (MC Holdings) Pte Ltd through a joint venture (JV). However, the JV will not have a "material impact" on the group's financial performance in the current financial year.
The transaction with International SOS was completed on Oct 16. It will see 10 clinics under the JV operated and branded under the group "in the near future".
Raffles Medical acknowledges that the healthcare landscape will remain competitive, but it remains optimistic that it will continue to grow for the rest of 2015.
Shares of Raffles Medical ended higher at $4.39 last Friday.
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Its operating profit also increased 2% to $18.5 million from $18.2 million a year ago due to strong performance from its hospital service division. This was despite incurring higher depreciation and operating lease expenses.
Revenue rose 7.4% to $101.5 million from $94.5 million previously.
This came on higher revenue contribution from the hospital services and healthcare services divisions, up 11.7% and 3.5% respectively, says the healthcare services group.
Raffles Medical says it expects to benefit from the acquisition for International SOS (MC Holdings) Pte Ltd through a joint venture (JV). However, the JV will not have a "material impact" on the group's financial performance in the current financial year.
The transaction with International SOS was completed on Oct 16. It will see 10 clinics under the JV operated and branded under the group "in the near future".
Raffles Medical acknowledges that the healthcare landscape will remain competitive, but it remains optimistic that it will continue to grow for the rest of 2015.
Shares of Raffles Medical ended higher at $4.39 last Friday.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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