Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Equity Bottom-Up

<p>Raffles Medical Group <a href="https://www.smartkarma.com/entities/879" target="_blank" data-smartkarma-citation="entities:879:1">Raffles Medical Group Ltd (RFMD SP)</a> recently reported 2016 results. The brief highlights (Y/Y) are:</p><ul>
<li>Revenue +15.4% (+7.5% organic) with Hospital Services +6.3% and Healthcare Services +30.8%</li>
<li>Operating income +1.7% with labor costs, supplies, and other expenses pressuring margins</li>
<li>Profit after minority interest -1.6%</li>
<li>EPS diluted were flat at S$0.04</li>
<li>Balance sheet remains in good shape: net cash of S$81.5 million, up from S$53.8 million last year</li>
</ul><p>Our proprietary check of physician…</p>

Raffles Medical Group Raffles Medical Group Ltd (RFMD SP) recently reported 2016 results. The brief highlights (Y/Y) are:
Revenue +15.4% (+7.5% organic) with Hospital Services +6.3% and Healthcare Services +30.8%
Operating income +1.7% with labor costs, supplies, and other expenses pressuring margins
Profit after minority interest -1.6%
EPS diluted were flat at S$0.04
Balance sheet remains in good shape: net cash of S$81.5 million, up from S$53.8 million last year
Our proprietary check of physician…

Raffles Medical Group

"Dead Money" Call Continues For Now