SINGAPORE (Feb 4): As an operator of preschools in Singapore, Australia and other Asian countries, MindChamps Preschool stands to benefit from parents’ perennial drive to do better for their children. As executive chairman David Chiem has observed in an earlier interview with The Edge Singapore, parents would rather forgo buying a new handbag than skimp on the expenses for a quality preschool education.

MindChamps now operates 71 preschools, up from 44 in 2016, a year before its IPO in November 2017. Nineteen of these centres are outside of Singapore, with 10 in Australia. Its total enrolment is now nearly 4,200, up from about 2,700 before.

For the three months to Sept 30, earnings were up 3% y-o-y to $1.2 million, on the back of a 74% y-o-y increase in revenue to $9.2 million. Earnings growth was held back by higher administrative costs, which came about after it became a publicly listed company; higher financing costs were a drag too.

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