Staff Reporter
,
Singapore
Due to a one-off gain in 2013.
Raffles Medical today reported that its net profit dropped to $68m in FY14, down 20.3% from $85.3m in 2013.
Excluding a one-off gain of S$20.4m from the disposal of a subsidiary in FY13 as well as adjustments in fair value of investment properties, the group attained a 6.5% increase in net profit to $65m.
Raffles Medical cautioned that competition in the healthcare sector is likely to remain keen with new hospitals being developed in Singapore and the region, while the more measured pace of economic growth in China and Singapore may have a dampening effect on healthcare demand.
Join Singapore Business Review community
Since you're here...
...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.
We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.
Let us help you drive your business forward with a good partnership!