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Raffles Education Corp Posts Net Profit of S$51.1 MILLION ON REVENUE OF S$202.0M for FY2009 (24 Aug 09)
- Revenue: -28.3% (4Q09), +6.3% (FY09)
- Net profit: -81.3% (4Q09), -48.3% (FY09)
- Press Release: Healthy Cash position of S$115.3 million
- Gearing ratio reduced from 0.25x to 0.02x
- Outlook: Going forward, the Group expects to see continued growth of its business through setting up more colleges in the region, development of its proprietary courseware, value creation of Oriental University City and strategic acquisitions.
FINANCIAL RECORDS
Revenue (SGD '000)
FY 1Q 2Q 3Q 4Q Total
2009 53,181 54,151 49,852 44,772 201,956
2008 39,124 39,320 49,157 62,419 190,020
2007 26,954 27,407 28,474 41,218 124,053
2006 20,107 20,136 22,181 27,638 90,062
2005 10,828 11,315 11,381 25,880 59,404
2004 NA NA NA NA 32,289
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Earnings (SGD '000)
FY 1Q 2Q 3Q 4Q Total
2009 31,527 27,006 (16,499) 9,086 51,120
2008 14,723 16,311 19,404 48,383 98,821
2007 9,393 14,872 11,009 14,057 49,331
2006 7,004 6,981 8,251 10,033 32,269
2005 3,101 3,409 3,501 7,203 17,214
2004 NA NA NA NA 10,146
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Dividends
FY 1Q 2Q 3Q Final Special (SGD)
2009 0.010 0.010 NA NA NA
2008 0.013 0.013 0.0065 0.01 NA
2007 0.009 0.009 0.009 0.013 NA
2006 0.0125 0.0125 0.0125 0.018 NA
2005 0.005 0.005 0.005 0.01 NA
2004 0.0075 0.01 0.01 0.005 NA
2003 NA 0.03 0.01 0.02 NA
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Bonus / Rights / Stock Split
Date Type Details
2008-03-13 Stock Split STOCK SPLIT OFFER OF 2 FOR 1
2006-11-10 Stock Split STOCK SPLIT OFFER OF 2 FOR 1
2006-11-10 Stock Split 1HF/12PRE-SPLIT OFFER OF 1 FOR 12
2004-08-20 Stock Split STOCK SPLIT OFFER OF 2 FOR 1
2003-10-29 Bonus OFFER OF 1 FOR 2
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Share Data (SGD)
NAV = $0.2007
EPS = $0.0433 (12M FY09)
Diluted EPS = $0.0432 (12M FY09)
No of Shares = 2,585,499,156
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ANALYSTS' TARGET PRICES
Broker Recommendation Target Price Date
NA
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