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Raffles Education stays in the red in 9M ended March on challenging business environment

PC Lee
PC Lee5/15/2018 06:44 PM GMT+08  • 1 min read
Raffles Education stays in the red in 9M ended March on challenging business environment
SINGAPORE (May 15): Raffles Education Corp reported losses for the nine months ended March of $3.1 million compared to losses of $8.5 million in the same period a year ago.
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SINGAPORE (May 15): Raffles Education Corp reported losses for the nine months ended March of $3.1 million compared to losses of $8.5 million in the same period a year ago.

Revenue fell 1% to $72.6 million while other operating income fell 42% to $4.2 million due to sale of property by Axiom Properties.

The private education provider says challenging global education environment, currency volatility and increasing interest rate continue to impact the group.

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