Raffles Education net profit fell 53% in nine months FY2011

Revenue declined 15% coupled with an increase in income tax expense and higher personnel expenses, 9MFY2011 net profit after tax was $14.6 million.

According to Raffles Education, revenue declined due mainly to the strengthening of the Singapore dollar against the Renminbi which adversely affected the Renminbi denominated revenue and lower enrolments due to a reduction in the allocation of National Education School students as a result of a drop in the number of students in China taking the Gao Kao.

Mr Chew Hua Seng, Chairman and CEO of RafflesEducationCorp, remarked, “The results reflect the effects of the strong Singapore dollar on Renminbi denominated revenue. Importantly, we have seen improvements in student enrolment numbers from our new colleges as they continue to penetrate emerging markets. ”

Outlook and Prospects

The Group will continue to build on its strong fundamentals including building depth at its existing colleges, expanding its college network, value creation of Oriental University City, enhancing its academic capability, education asset enhancement and executing strategic acquisitions.

As previously announced, the proposed S$78 million 10-year loan from IFC is a strong endorsement of the Group’s growth, particularly in emerging markets.

The people you want to reach are already in this room.

Every quarter, SBR lands on the desks of the founders, CFOs, and directors running Asia's most consequential companies. Every day, they open our newsletter and read our website. It's a room that took twenty years to build — and it's the one most of our partners are trying to get into.

The good news is that the door is open. We work with companies on thought leadership articles, sponsored content, industry summits across Southeast Asia, regional awards programmes, podcasts, and media placements in print and digital. The shape of the right partnership depends on what you're trying to do, which is why we'd rather start with a conversation than send a rate card.

If you have something this room should know about, tell us. We'll tell you honestly whether we can help, and how.

No rate cards until we understand the brief. It's a better use of everyone's time.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia