Subdued profits for Singapore’s Raffles Medical Group

A higher tax bill and depreciation from the recently completed Raffles Specialist Centre in Singapore weighed on annual profits at Raffles Medical Group (RMG), the largest private medical group practice in the island state. Profits inched up 0.4% to S$71.1 million (US$52.7 million) on revenues that were up 2.4% to S$489.1 million. It was healthcare…