Raffles Education posts profit of $23.8m in Q3
Divestment of investment properties cited
THANKS to a divestment of investment properties, Raffles Education Corporation ended its fiscal third quarter with a net profit of $23.84 million, against $4.46 million a year earlier.
Earnings per share rose from 0.43 cent to 2.32 cents. No dividends were declared for the period.
The private education provider, which registered a surge in other operating income from $9.5 million to $47.7 million for the January-March fiscal Q3, said this was mainly due to a pre-tax gain of $46.1 million from the "divestment of investment properties of 490 mu land and properties in Orient…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Tesla cuts US prices by US$2,000 as sales slow, inventories swell
Volkswagen workers vote decisively to unionise in Tennessee
Sony deal for Paramount would draw added regulatory scrutiny
Bitcoin 'halving' has taken place: CoinGecko
Lululemon to shutter Washington distribution center, lay off 128 employees
Wall Street bonus rules return to regulatory agenda in third try