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Raffles Education Corporation reports 51% lower earnings of $18.3 mil in 2QFY2022

Felicia Tan
Felicia Tan2/12/2022 12:47 AM GMT+08  • 4 min read
Raffles Education Corporation reports 51% lower earnings of $18.3 mil in 2QFY2022
As at Dec 31, 2021, REC’s current liabilities have exceeded its current assets by $182.1 million and $114.7 million respectively.
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Raffles Education Corporation (REC) has reported earnings of $18.3 million for the 2QFY2022 ended December, 51% down from earnings of $37.3 million in the same period a year ago.

This brings the company’s 1HFY2022 earnings to $8.7 million, down 76% y-o-y. In the 1QFY2022, REC reported a loss of $9.6 million on lower other operating income

2QFY2022 earnings per share (EPS) stood at 1.33 cents.

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