SINGAPORE (Feb 25): Analysts remain cautious in their calls for Raffles Medical, following the release of its FY2019 results on Feb 24.

In what DBS analysts Rachel Tan and Andy Sim deem as a “common cold, not flu”, the group posted a 14.1% drop in earnings to $58.1 million. This comes on the back of the start-up costs it incurred from the opening of its Raffles Hospital Chongqing in January 2019.

The decline is in spite of a 6.7% increase in revenue to $522 million from higher contributions to its healthcare and hospital services divisions.

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