Raffles Education Q3 net profit slips 80%

RAFFLES Education Corp's net profit for the third quarter ended March fell 80 per cent to S$4.7 million from S$23.8 million a year ago.

Revenue was flat at S$31.2 million from S$31.1 million.

In a statement, Raffles Education said revenue would have risen 6.8 per cent if the contribution from LangFang Oriental Institute of Technology of S$1.9 million in the third quarter of FY2014 was excluded, as the group had ceased consolidating its operational results for the first quarter of the current financial year.

Earnings per share fell to 0.47 Singapore cent from 2.32 Singapore cents. No dividend was recommended.