BRIEF: New Oriental Education’s profit surges
EDU.US
9901.HK
New Oriental Education & Technology Group Inc. (EDU.US; 9901.US) reported Wednesday that its revenue rose 30.5% to $1.44 billion in its fiscal first quarter through August, while its net profit increased 48.4% to $245 million.
The company said it benefited from revenue growth of 20.7% to 49.8% for its new educational, overseas study consulting and domestic test preparation businesses, adding it will strike a balance between healthy and sustainable growth, while improving profitability by enhancing efficiency. New Oriental’s Hong Kong-listed shares fell 11% to HK$44.5 in early Thursday morning trade.
By A. Au
To subscribe to Bamboo Works free weekly newsletter, click here
Related Articles
BRIEF: Ant Group eyes Hong Kong listing for overseas unit
9988.HK
BABA.US
BRIEF: Midea buys back 550 million yuan of A-shares in April
0300.HK
000333.SHE
RELATED ARTICLES
-
East Buy ends superstar influencer addiction – but at a big price
1797.HK -
NetClass offers lesson in diversity with globalization strategy
NTCL.US
-
Its knuckles rapped, recovering Gaotu springs back to the black
GOTU.US
- Shanghai Able’s renewed IPO plan hobbled by weak appetite for new tech listings
-
Youdao looks to parent, global markets to revive stalling growth
DAO.US
