In today’s briefing:
- Raffles Medical (RFMD SP): 2H24 Result, China Recovery, Buyback, and Dividend Raise Expectation
Raffles Medical (RFMD SP): 2H24 Result, China Recovery, Buyback, and Dividend Raise Expectation
- Raffles Medical Group (RFMD SP) reported mixed 2024 result. However, 2H24 revenue increased 15% YoY, operating profit rose 5% YoY, and adjusted PATMI jumped 38% YoY.
- China operation is recovering, with revenue growing 10% YoY to S$65M in 2024. Three general hospitals in China have demonstrated strong potential for growth and have a positive outlook ahead.
- Raffles has revised its dividend policy to pay out at least 50%. The company intends to buy back up to 100M ordinary shares over the next two years.
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