No dividend has been declared as the company intends to retain the profits generated in the current financial period for operational needs.
Faced with Covid-19 challenges for much of the year, early childhood education company MindChamps PreSchool Limited posted 5% lower earnings of $0.7 million for the 1H2020 ended June.
MindChamps’ revenue decreased by 4% y-o-y, to $21.6 million in 1H2020. The company attributed the decrease to the 50% mandated school fee reductions during 2Q2020 as part of Covid-19 countermeasures in Singapore and Australia. This reduction was offset by the increased number of enrolled students following the acquisitions of preschool centres in 2019.
