Stock Earnings: Raffles Education Corp Q3 net profit up 136%!

Raffles Education Corp Ltd said its third quarter to March net profit jumped 136 pct year-on-year to 8.25 mln sgd, driven by higher student enrolments and course fees. Net profit for the nine months to March reached 22.24 mln sgd, up from the year-earlier 10.01 mln. Third quarter revenue rose 95 pct to 22.2 mln sgd, boosting nine-month turnover to 62.4 mln. "Our marketing efforts have resulted in increased student enrolment at our colleges. We are on track to set up more colleges in the region," Raffles Education CEO Chew Hua Seng said in a company statement. "We will also continue to strengthen and expand our extensive marketing network to attract more students around the world to our colleges and to continue the development of our proprietary courseware." Given the strong results, Raffles Education declared a quarterly dividend of 1.25 cents per share.

Raffles Education Corp Ltd third quarter to March results:
Sales - 22.18 mln sgd vs 11.38 mln
Pretax profit - 8.97 mln sgd vs 4.25 mln
Net profit - 8.25 mln sgd vs 3.50 mln
EPS - 1.61 cents vs 0.69
Interim div - 1.25 cents vs 0.5

Nine months to March results:
Sales - 62.42 mln sgd vs 33.52 mln
Pretax profit - 25.94 mln sgd vs 11.77 mln
Net profit - 22.24 mln sgd vs 10.01 mln
EPS - N/A