Raffles Education Corporation reports 51% lower earnings of $18.3 mil in 2QFY2022

Raffles Education Corporation (REC) has reported earnings of $18.3 million for the 2QFY2022 ended December, 51% down from earnings of $37.3 million in the same period a year ago.

This brings the company’s 1HFY2022 earnings to $8.7 million, down 76% y-o-y. In the 1QFY2022, REC reported a loss of $9.6 million on lower other operating income