Private healthcare provider Raffles Medical Group said earnings increased by 7.1% to $12.5 million in the 2Q ending June 30 from $11.7 million in the year ago period (2Q 2011).
Revenue for the group showed a growth of 14.9% from $67.0 million in 2Q 2011 to $76.9 million in 2Q 2012.
Revenue from Hospital Services and Healthcare Services divisions increased by 19.1% and 9.1% respectively.
Profit from operating activities grew 4.7% from $14.3 million in 2Q 2011 to $15.0 million in 2Q 2012.
This was driven by higher patient load and patient acuity.
Raffles Medical Group said the group had a healthy cash position of $84.2 million as at June 30 2012.
More employees were recruited by the group to meet business expansion and wages were raised in line with industry wide salary adjustments. These factors accounted for the increased staff costs of 19.1% in 2Q 2012 from 2Q 2011.
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