Raffles Medical (RFMD SP): Resilient Business Model; Border Reopening to Further Boost Growth

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278 Views, 10 May 2022 20:32

EXECUTIVE SUMMARY

Raffles Medical (RFMD SP) reported 27% y/y revenue growth to S$723.8 million and net profit increase of 30% y/y to S$83.7 million in 2021.
Following full border reopening by Singapore beginning April, medical tourism is set to revive. As a leading hospital operator in Singapore, Raffles is well-positioned to grab the opportunity.
Regular share buyback and recent stake increase by a major investor further enhance conviction on the company’s growth potential.

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