Shares & Derivatives
Raffles Medical Crashed 10% in Two Days: Should Investors Buy the Dip?
By The Smart Investor  •  October 27, 2021
Raffles Medical Group (SGX: BSL), or RMG, witnessed a sharp turn in fortunes this year. The integrated healthcare provider, which owns and operates its flagship Raffles Hospital in North Bridge Road, reported a sparkling set of earnings for its fiscal 2021 first half (1H2021). Revenue surged by 42.4% year on year to S$343.8 million as the group supported the government in its COVID-19 vaccination and Polymerase Chain Reaction (PCR) swab test initiatives. Net profit more than doubled year on year to S$39.4 million. In contrast, 1H2020 saw a 5.4% year on year dip in revenue while net profit plunged by 41.6% year on year. Unsurprisingly, RMG’s share price has been on a tear, rising from S$0.99 at the start of this year to a high of S$1.54 last Friday. However, in the last two days, the healthcare provider’s share price has crashed by 10% to S$1.38. Does the decline present an opportunity to accumulate shares in the group?...
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By The Smart Investor
The Smart Investor is co-founded by David Kuo, Joanna Sng, and Chin Hui Leong. The company was formed in late 2019 from the ashes of the Motley Fool Singapore. The Smart Investor believes that everybody can learn how to invest, smartly. We aim to educate people on how to invest smartly by providing investing education, stock commentary and market coverage for Singapore and around the world.
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