Raffles Medical's Healthcare Services Segment Could Weigh on Core Earnings

Dow Jones
07/28

0310 GMT - Raffles Medical's healthcare services segment is likely to weigh on its core net profit over 2026-2028, says Maybank Securities' Eric Ong in a note. Lower occupancy at transitional care facilities in Singapore weighed on the company's 1H healthcare services segment's revenue, which fell around 16% from a year earlier and came as an unpleasant surprise to the analyst. He cuts his 2026-2028 core net profit projections by 16%-18% to factor in slower run rate and margins for the Singapore hospital operator's healthcare services business. Maybank Securities cuts its target price to 1.09 Singapore dollars from S$1.20 but retains its buy rating. Shares are flat at S$0.91. (megan.cheah@wsj.com)

 

(END) Dow Jones Newswires

July 27, 2026 23:10 ET (03:10 GMT)

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