Raffles Education reports net profit attributable to equity-holders of SGD26.7m

That's for the full year ended June 30.

According to OSK DMG, Raffles Education Corporation reported a net profit attributable to equity-holders of SGD26.7m for the full year ended June 30, against a net loss of $66.3 million the preceding financial year.

Here's more from OSK DMG:

Revenue was at SGD128.4m, 2% lower as compared to SGD131.1m a year before. The turnaround was attributable to a SGD41.7m fair-value gain on investment properties, against a fair-value loss of SGD6.3 million the year before.

This includes a SGD1.4m gain from Raffles Education Square at 51 Merchant Road before the property became owner-occupied.

The company moved its headquarters there in April this year. Also helping was a 47% reduction in finance costs to SGD8.5 million.

While "other operating income" was 47% at SGD67.2m, impairment of goodwill was just SGD240,000 against the preceding year's SGD51.6m

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