•   info@mmfsolutions.sg
  •   + 65-3158-2180
  •   +65-8317-2169
  •   mmfsolutionsg

Singapore Stock Raffles Medical 2Q earnings marginally higher at $16.8 mil

Singapore Stock Raffles Medical Group (RMG) has declared income of $16.8 million for the second quarter finished June, up to a large portion of a percent from $16.7 million revealed in a similar period a year back.

A between time profit of a large portion of a penny has been announced, to be paid on Aug 31.

Income for 2Q17 was 1% higher at $120.1 million when contrasted with $119 million in the earlier year regardless of milder than-anticipated request from outside patients, which the group ascribes to a development in understanding burden that supported income from the clinic administrations division by 0.3% – counterbalancing a minor reduction in income from the human services administrations division by 1.1%.

Staff costs grew 3% to $61.7 million from $59.9 million a year back, due principally to the enrollment of more master experts, administration and clinical staff in an arrangement for the opening of RafflesHospital Extension in the last quarter of this current year.

As at end-June, the group was at a money position of $112 million in the wake of representing its; distribution of a final profit of $5.5 million, an installment of $53.6 million for speculation properties being worked on.

In its administrative documenting on Monday, RMG says RafflesMedical procured new customers for the group in the property, shipping, ware, accommodation, training, childcare, fund, administrations and government divisions over the quarter.

As indicated by the group, RafflesHospital Extension’s culmination and opening in Q4 2017 will enable RafflesHospital to additionally build its expansiveness and profundity of clinical administrations with anticipated simultaneous development in the limit of expert outpatient and inpatient offices.

It includes that the development of its extension ventures RafflesHospital Chongqing and RafflesHospital Shanghai, which are focused on being operational by 2H18 and 2H19, is advancing as indicated by design.

Notwithstanding the financial lull and expanding rivalry from local nations for remote patients, the group is arranged and prepared to meet these testing conditions. The group will likewise keep on being watchful and react to new open doors that may emerge,” remarks RMG.

The group hopes to stay beneficial in FY17.

Offers of RMG shut 1 penny bring down at $1.28 on Friday.

Penny Stock to Buy

  • Rowsley^
  • DISA
  • YZJ Shipbldg SGD
  • Genting Sing

So Earn more With our Stock Recommendations

Tags: , , , , , , , , , ,

3 Days Free Trial Form