Raffles Medical Group Ltd Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Reports Property, Plant and Equipment Written Off for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Year 2018
April 30, 2018 at 03:49 am EDT
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Raffles Medical Group Ltd. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenue of SGD 120,189,000 against SGD 114,915,000 a year ago. Profit from operating activities was SGD 18,891,000 against SGD 18,087,000 a year ago. Profit before tax was SGD 18,857,000 against SGD 18,269,000 a year ago. Profit for the period was SGD 15,466,000 against SGD 14,965,000 a year ago. Profit attributable to owners of the company was SGD 15,812,000 against SGD 15,545,000 a year ago. Net cash from operating activities was SGD 23,962,000 against SGD 18,175,000 a year ago. Acquisition of intangible assets was SGD 211,000. Purchase of property, plant and equipment was SGD 4,110,000 against SGD 1,411,000 a year ago. Diluted earnings per share were 0.89 cents against 0.88 cents a year ago. The group's net profit after tax attributable to owners of the company recorded an increase of 1.7%, this was mainly attributed to the increase in revenue offset by higher expenditure in inventories, depreciation and staff costs due to the expansion of medical centres and beds to meet growing patients' demands. EBITDA was SGD 23,267,000 against SGD 21,765,000 a year ago.
For the first quarter, the company reported property, plant and equipment written off of SGD 45,000 against SGD 33,000 a year ago.
Based on the current economic outlook and barring unforeseen circumstances, the Directors expects the group to grow and remain profitable in 2018.
Raffles Medical Group Ltd is a Singapore-based integrated private healthcare provider. The principal activities of the Company are those relating to the operation of medical clinics, other general medical services, and investment holdings. The Companyâs segments include Healthcare Services, Hospital Services, and Investment Holdings. The Healthcare Services segment is engaged in the operations of medical clinics and other general medical services; provision of health insurance, trading in pharmaceutical and nutraceutical products and diagnostic equipment, and provision of management and consultancy services. The Hospital Services segment is engaged in the provision of specialized medical services and operation of hospital and business of medical laboratory and imaging center. The Investment Holdings segment is engaged in investment holding and those relating to investment properties. It operates medical facilities in about 14 cities in Singapore, China, Japan, Vietnam, and Cambodia.
Raffles Medical Group Ltd Reports Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Reports Property, Plant and Equipment Written Off for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Year 2018