Raffles Medical posts 63.8% drop in H2 profit to S$30.3 million; looks to China, Japan growth

RAFFLES Medical Group posted a 63.8 per cent drop in net profit to S$30.3 million for the second half ended Dec 31, 2023, from S$83.7 million in the previous corresponding period.

The group attributed the weaker performance to the discontinuation of Covid-19-related activities in FY2023, it said on Monday (Feb 26).

The results translate to earnings per share (EPS) of 1.63 Singapore cents against EPS of 4.51 cents previously.

Meanwhile, revenue was down 18.6 per cent on the year to S$336.2 million from S$413.2 million.

The board has proposed a final dividend of S$0.024 per share, down from the S$0.038 per share declared for the same period a year earlier.

For the full year ended Dec 31, 2023,…