Ramkhamhaeng Hospital’s associate profits to recover in FY25: report

However, its profitability is unlikely to reach FY23 levels.

Ramkhamhaeng Hospital (RAM) is projected to see a recovery in its share of profit from associates in FY25, according to a CGS International report.

RAM’s share of profit from associates is estimated to recover to $15m, with further growth to $15.5m anticipated in FY26.

This recovery is expected to drive the hospital’s net profit growth during the FY25–26 period.

“However, we do not think RAM’s share of profit from associates will be back to FY23’s level yet, as we do not expect Thonburi Healthcare Group’s (THG’s) profitability to normalise in FY25F, following recent developments,” the report said.

In FY24, the hospital’s share of profit from associates declined sharply by 92% year-on-year, falling from $21m to $1.7m.

The decrease was primarily attributed to its holding in THG, which reported net losses due to impairments and expected credit losses.