Wednesday, November 9, 2011

SEG Intl 3Q net profit up 66% to RM18.3m

KUALA LUMPUR (Nov 9): SEG INTERNATIONAL BHD []'s earnings rose 66.3% to RM18.32 million in the third quarter ended Sept 30, 2011 from RM11.01 million a year ago, boosted by an increase in student enrolment and is optimistic about sustainable growth.

It said on Wednesday, revenue increased by 24.1% to RM69.95 million from RM56.36 million while earnings per share were 3.50 sen versus 2.22 sen.

For the nine-month period, its net profit increased by 74.2% to RM54.57 million from RM31.32 million. The group achieved a revenue of RM207.7 million and a profit before tax of RM68.4 million, an improvement of 28.8% and 70.1% respectively, as compared to the corresponding period in 2010.

'The improvement in performance is generally due to the increase in student enrolments of the group's institutions,' it said.

On the outlook, it said the Group has been recording marked improvement in student numbers and profitability.

'This trend is expected to continue in the foreseeable future as the group has put in place a firm foundation and strategy for sustainable growth,' it said.

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