See: Singapore Medical Group reports 49.5% lower earnings of $3.5 mil for 1H20
However, Teng expects a faster recovery in SMG’s patient load in light of the management’s observation of pent-up demand for elective medical services. As such, he has raised his FY2020/2021 net profit forecast for the company by 4% and 12% respectively, in anticipation of a stronger-than-expected that could lift patient loads to 80 – 85% of pre-Covid levels this year. “Based on our channel checks, we believe demand for elective medical services remained robust in 2H20. This could be likely due to the diversion of travel expenditure to healthcare expenditure, as well as an increasingly health-conscious population amid Covid-19,” mulls Teng. He adds that this would likely support the earnings of healthcare players like SMG in 2H2020.