Wisdom Education International Holdings Co Ltd
[6068.HK]Wisdom Education International Holdings Company Limited Announces 2017 Annual Results Revenue Rose by 39.7% yoy to RMB979 Million Core Net Profit Surged by 33.8% yoy to RMB249 Million Multi-drivers Growth Through Acquisitions, New Schools and Capacity Expansion Seize the opportunities from the rapid development of Guangdong-Hong Kong-Macau Greater Bay Area
【For Immediate Release】 21 November 2017 Wisdom Education International Holdings Company Limited Announces 2017 Annual Results Revenue Rose by 39.7% yoy to RMB979 Million Financial Highlights
(Hong Kong – 21 November 2017) Wisdom Education International Holdings Company Limited (“Wisdom Education” or the “Company” together with its subsidiaries, the “Group”, stock code: 6068.HK) is pleased to announce its annual results for year ended 31 August 2017 (the “Year”). During the Year, the Group recorded a 39.7% year-on-year (“yoy”) growth in revenue, reaching RMB979.1 million (2016: RMB700.7 million). The increase in revenue was brought by the increase in overall student enrolment, the increase in tuition and boarding fees for new students in certain schools, as well as the increasing utilization of anciliary services due to an expanding service portfolio. The overall gross profit of the Group rose from RMB330.4 million to RMB449.9 million, representing a growth of 36.2% yoy. When netting off all one-off and non-cash items, core net profit surged by 33.8% to RMB248.5 million (2016:RMB185.8 million). The Board has resolved to recommend the payment of a final dividend of RMB0.026 (equivalent to HK$0.030) per share. Together with the interim dividend paid of RMB0.024 (equivalent to HK$0.027) per share, total dividend will be RMB0.05 (equivalent to HK$0.057) per share for the year ended 31 August 2017. Student enrolment As at 1 September 2017 (beginning of 2017/2018 school year), there were 41,180 enrolled students, indicating an increase of 29.5% as compared to that of 1 September 2016. The increase in student enrolment was partly due to a 15.4% organic growth in student enrolment of the original schools, and partly due to 14.1% growth as a result of the acquisition of Huanan Shida Yuedong Preparatory School (“Jieyang School”). Tuition With effect from 1 September 2017, new primary and middle school students of Weifang Guangzheng Preparatory School are subject to new tuition and boarding fees increments of more than 25% increase, whereas new primary and middle school students of Panjin Guangzheng Preparatory School are subject to new tuition and board fees increments of more than 6%. Acquisition of Jieyang School (華南師大粵東實驗學校) Jieyang School is a private school located in Jieyang city, Guangdong province providing primary, middle and high school education, with approximately 3,200 students during the Year. Expansion of Schools’ Capacity and New High Schools Opened Mr. Liu continued, “One of our key strategies is to establish our own schools through collaborations with local government. For example, we have entered into a cooperation agreement with the Yunfu government for the construction of a new school, which will offer primary, middle and high school education with a target maximum capacity of 10,680 students. We have also entered into an agreement with the Guang’an government with a target maximum capacity of approximately 9,280 students, and both projects commencing operation in September 2018. Looking ahead, we will seek the possibility of capacity expansion, as well as local private schools acquisitions, to further fuel our business growth. With our operational know-how, proven track record, and strong government support, we are confident that Wisdom Education can nurture elites for the society, and eventually generate fruitful returns for our shareholders and stakeholders.” Mr. Liu concluded. – End –
This press release is issued by DLK Advisory Limited on behalf of Wisdom Education International Holdings Company Limited. DLK Advisory Document: http://n.eqs.com/c/fncls.ssp?u=CTYXRBYKGY Document title: [6068.HK]Wisdom Education International Holdings Company Limited Announces 2017 Annual Results Revenue Rose by 39.7% yoy to RMB979 Million Core Net Profit Surged by 33.8% yoy to RMB249 Million Multi-drivers Growth Through Acquisitions, New Schools and Cap
21/11/2017 Dissemination of a Financial Press Release, transmitted by EQS Group. |