BRIEF: Top Education’s interim profit jumps 50%

Australian educator Top Education Group Ltd. (1752.HK) on Wednesday reported its revenue rose 16.5% to A$16 million ($10 million) in the six months to December last year, the first half of its fiscal year. It earned a profit of A$1.6 million for the period, up about 50%.

The company is based in Australia, but develops courses aimed at the Chinese students. In response to recent caps on foreign enrollment among educational institutions targeting overseas students, Top Education said it is developing new courses aimed at the domestic  Australian market.

The company it has held recently discussions with Liaocheng University focused on creating a pathway program where students start accounting courses at Liaocheng and complete them Top, qualifying them for provisional CPA status in Australia. The company’s other Chinese partner institutions with similar pathway programs include Guangxi University of Finance and Economics and Shandong Polytechnic College.

Shares of Top opened flat, but later rose and were up 5.3% in Thursday afternoon trade.

By Lau Chi Hang

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