This had resulted in the group’s full-year earnings being lifted to $6.9 million, or some 9% higher than earnings of $6.4 million in FY2018.
SINGAPORE (Mar 2): RHB Group Research has downgraded MindChamps PreSchool to a “neutral” from the previous “buy”, and has slashed its target price by 55% to 37 cents as the group continues to grapple with a rising cost environment.
In its latest set of results for 4QFY2019 ended December, the group reported earnings of $5.9 million, up 60% from earnings of $3.7 million 4QFY2018. Revenue for the quarter increased 12% to $15.8 million on the back of an increase in school fees, which resulted from the increased number of enrolled students following the group’s acquisitions of preschool centres in 2018 and 2019.
