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29 July 2015

[The Edge Markets] SEGi 2Q net profit rises 18% on better product mix

GEORGE TOWN (July 28): SEG International Bhd (SEGi)’s net profit for its second quarter ended June 30, 2015 (2QFY15) came in at RM7.96 million or 1.16 sen per share, up 18.1% from RM6.74 or 1.05 sen per share a year ago, due to a better product mix and demand for higher-end programmes.

In its filing to Bursa Malaysia today, the education provider’s revenue for the period came in at RM65.07 million, up 5.3% from RM61.81 million in 2QFY14.

Year-to-date, the group’s net profit went up 34.6% to RM18.78 million or 2.76 sen per share from RM13.95 million or 2.17 sen per share; revenue for the period was at RM132.43 million, up 7.4% from RM123.33 million previously.

SEGi (fundamental: 1.8; valuation: 1.1) said it has launched a number of new initiatives in the last two years that have a strong foundation for growth.

“With this in place, the group expects its financial performance to improve further for this and the coming years,” SEGi added.

Its shares fell one sen or 0.7% to close at RM1.42 today, giving it a market capitalisation of RM1.03 billion.

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