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Top Education Turns to Fiscal H1 Loss as Course Fee Income Drops; Shares Fall 3%

MT Newswires ·  03/01/2022 12:56

11:54 PM EST, 02/28/2022 (MT Newswires) -- Top Education Group (HKG:1752) said it swung to fiscal H1 loss of AU$0.00029 ($0.00021) from earnings of AU$0.00036 in the previous year.

Loss attributable to owners of the company in the fiscal six months ended Dec. 31, 2021, hit AU$701,000 versus a profit of AU$933,000 a year prior, according to a late Monday filing.

Revenue went down to AU$9.4 million year over year from AU$13.4 million.

The results were depressed by a 31.4% year-on-year drop in course fee income to AU$8.7 million due to the COVID-19 pandemic.

Shares of the Australian school operator fell over 3% in midday trade Tuesday.

Price (HKD): $0.12, Change: $0.00, Percent Change: -3.25%

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