Raffles Medical net profit falls 9.6% to $29m in H1

Its healthcare services division posted a 16% drop in revenue to $119.5m.

Raffles Medical Group’s net profit declined 9.6% to $29m in the first half of 2026, from $32.1m a year earlier.

Revenue decreased 6.7% to $353.2m, whilst operating profit fell 8.4% to $38.1m.

EBITDA also went down by 5.6% to $60.1m.

The decline came as the healthcare services division posted a 16% drop in revenue to $119.5m, due to lower occupancy at transitional care facilities. Profit from the segment fell to $15.6m from $24.9m.

This was partly offset by stronger performance from hospital services, where profit rose 11% to $19.7m. Revenue from the division stood at $170.2m, whilst its profit margin improved to 11.6% from 10.2%.

The group generated $64.6m in operating cash flow, up from $56.6m a year earlier.

 It held $262.3m in cash and cash equivalents as at end-June, after distributing $55.2m in dividends and repaying $51.1m in bank loans.