Raffles Medical posts 14.1% drop in FY2019 earnings, but looks for novel measures to cope with Covid-19

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SINGAPORE (Feb 24): Raffles Medical Group has posted a 14.1% drop in earnings for S$58.1 million for FY2019 ended Dec 31, 2019, from S$67.7 million a year ago, due to the start-up costs it incurred for the opening of its Raffles Hospital Chongqing in January 2019.

This translates to earnings per share (EPS) of 3.32 Singaporean cents for FY2019 on a fully diluted basis, compared to an EPS of 3.97 cents in FY2018.

This is in spite of a 6.7% increase in revenue to S$522 million from S$489.1 million in FY2018, from contributions in its healthcare and hospital services divisions. Income from its healthcare services was up 9%, following an...(click on link for full story on theedgesingapore.com)