Raffles Education posts S$1.7m loss for Q1

RAFFLES Education Corporation fell into the red in its fiscal first quarter, posting a net loss of S$1.7 million compared with a net profit of S$867,000 in the previous year.

For the three months ended Sept 30, 2016, revenue sank 14.8 per cent to S$24.8 million from the previous year, the group said in a Singapore Exchange filing on Wednesday.

It posted a loss per share of 0.18 Singapore cent for the quarter, down from earning per share of 0.09 Singapore cent in the preceding year.

Net asset value per share dipped to 54.47 Singapore cents as at Sept 30, from 54.71 Singapore cents as at three months ago.

Raffles Education shares ended unchanged at S$0.19 on Wednesday.