RAFFLES EDUCATION CORP REPORTS 76% GROWTH IN NET PROFIT FOR 3QFY2008 TO S$19.4 MILLION
- Revenue increased 73% to S$49.2 million
- Net profit increased 76% to S$19.4 million
- Declares Q3 interim dividend of 0.65 Singapore cents per share
Singapore, May 6, 2008 – Mainboard listed Raffles Education Corporation Limited (“RafflesEducationCorp” or “the Group”), the largest private education group in the Asia Pacific region, today announced a 76% increase in net profit to S$19.4 million for the three months ended March 31, 2008 (“3QFY2008”). This came on the back of a 73% increase in revenue to S$49.2 million in 3QFY2008.
The Group’s performance was attributed to an overall increase in student enrolment, increase in course fees and contributions from Zhongfa College, Oriental University City and newly acquired Hefei Wanbo College (“Wanbo College”). Mr Chew Hua Seng, Chairman and CEO of RafflesEducationCorp, said, “We are pleased with our consistent performance. Moving forward, we will continue to build up shareholders’ value through both organic growth and strategic acquisitions.”
For 3QFY2008, the Group declared an interim dividend of 0.65 Singapore cents per ordinary share.
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