Raffles Medical net profit up 2.4% in 2015

Raffles Medical net profit up 2.4% in 2015

The company is proposing a one-to-three share split to make its shares more affordable to investors and broaden its shareholder base.

SINGAPORE: Raffles Medical Group said on Monday (Feb 22) its net profit for 2015 rose 2.4 per cent to S$69.3 million, up from S$67.6 million the previous year.

Excluding a fair value gain on investment properties of S$1.5 million, its full-year earnings were up 4.9 per cent, the healthcare group said.

Revenue for the year ended Dec 31 was a record S$410.5 million, an increase of 9.6 per cent from S$374.6 million in 2014, it said.

Healthcare services grew 14.6 per cent during the year, with sales contributions from the recently-acquired International SOS (MC Holdings), as well as an expanding clinic network and insurance sales to more corporate clients.

Revenue from hospital services rose 7 per cent as a result of as number of factors, including increased patient load, more specialists and expanded clinics.

A final dividend of 4.5 cents per share has been recommended. Including the interim dividend of 1.5 cents per share paid in August 2015, the total dividend for the year increased by 0.5 cent to 6 cents per share as compared to 2014.

Raffles Medical also said on Monday that it is proposing a share split of one share to three shares.

The company currently has 575.25 million issued shares. With the proposed share split, it will have 1.73 billion issued sub-divided shares.

“The proposed share split may reduce the price of each board lot of the company’s shares and make the shares more affordable and accessible to both existing and potential investors,” Raffles Medical said.

With the increased number of lots available for trading, a share split may also broaden the company’s shareholder base from the current number of about 7,780 shareholders, it added.

Source: CNA/cy