Overseas Education, which runs the Overseas Family School, has reported earnings of $4.4 million for 1HFY2023, up 56.4% y-o-y.
Revenue in the same period was up 16% to $42.2 million, thanks to an improvement in student enrolment after all border measures were fully lifted.
The company does not plan to pay an interim dividend.
Barring the risks of a global recession, geopolitical tensions or a further wave of pandemic, Singapore expects the inflow of expatriate families relocating to Singapore will continue to recover, the company says.
Overseas Education is cautiously optimistic that student enrolment will also increase in tandem with the inflow of expatriate families entering and living in Singapore.
However, it warns that the foreign system schools’ landscape and the operating environment to remain competitive and challenging amid new entrants, rising costs and a high inflationary environment.
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Overseas Education shares closed at 24 cents on Aug 11, unchanged for the day, and down 2.08% year to date.
