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 Oriental University City".
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
SocGen Q1 profit slumps less than expected as investment bank surprises
Wall Street Journal moves Asia headquarters from Hong Kong to Singapore
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct