SINGAPORE (Feb 8): Informatics Education has reported a smaller net loss of $1.1 million for 3Q17, compared with a net loss of $1.4 million in 3Q16.
Group revenue for the quarter ended December fell 13% to $2.2 million, on the back of a reduced number of students enrolled in Singapore and UK.
Other operating income fell 81% to $90,000 from the write back of provisions in 3Q16 that was not repeated in the current quarter.
Employee benefit expenses fell 10% to $1.9 million from a lower headcount in both its Singapore and UK operations.
Other operating expenses also fell 34% to $1.4 million, owing to a write-back on doubtful receivables, higher foreign exchange gains, lower cost of goods sold, and lower operating lease expenses and travel expenses.
Informatics says it will continue to capitalise on its UK business to realise more synergies in its product offerings and distribution network.
The group did not declare any dividends for the current financial period.
Shares in Informatics closed 1.6 cents higher at 16.6 cents on Wednesday.
