Shares of Raffles Medical Group (BSL.SI) plummeted 3.16% in intraday trading on Monday after the healthcare provider reported a decline in first-half earnings.

The company posted a net profit after tax of S$29.3 million for the six months ended June 2026, down 9.8% from a year earlier, as revenue slipped 6.7% to S$353.2 million. The weaker performance was largely attributed to lower occupancy at its transitional care facilities, which dragged down the Healthcare Services division’s revenue by 16%.

Despite the profit decline, Raffles Medical said it expects to remain profitable for the full year, citing resilient demand for healthcare services and ongoing initiatives in integrated care, regional expansion, and digital transformation.