Edvantage Group Announces FY2024 Annual Results

Views: 1438

Highlights (relevant audited data for the year ended 31 August 2024)

– Revenue increased by 17% YoY to approximately RMB2,312 million;- Gross profit rose by 10% YoY to approximately RMB1,124 million;- Profit for the period attributable to owners of the Company rose by 16% YoY to approximately RMB715 million;- Number of student enrolments increased by 11% YoY to approximately 95,600;- Payment of a final dividend of HK10.0 cents per share;- Dividend payout ratio of 30% for the year.

HONG KONG, Nov 29, 2024 – (ACN Newswire) – Edvantage Group Holdings Limited (“Edvantage Group” or the “Group”, stock code: 0382.HK) has announced its audited FY2024 Annual Results for the year ended 31 August 2024 (the “Reporting Period”). During the Reporting Period, the Group actively responded to national policies, vigorously promoted industry-education integration, deepened the connotations of international education, continued to introduce unique new featured majors that match market and industry demands and fully embraced artificial intelligence (“AI”), succeeding in raising education quality and brand presence, thereby achieving steady growth in performance year after year.

During the Reporting Period, the Group’s revenue totaled approximately RMB2,312 million, representing an increase of 17% as compared to the corresponding period of the preceding year. The increase was mainly attributable to the continuous enhancement of the Group’s education brand effectiveness, which drove a rise in the number of student enrolments and higher average tuition fees recorded by the Group’s domestic schools. Profit for the period attributable to owners of the Company rose by 16% YoY to approximately RMB715 million. The number of students enrolled in the Group’s schools continued to expand yearly, reaching approximately 95,600, with a year-on-year growth of approximately 11%. The Board of Directors of the Group has recommended the payment of a final dividend of HK10.0 cents per share for the year ended 31 August 2024, which, along with an interim dividend of HK9.6 cents per share, equates to a total annual dividend of HK19.6 cents per share and a dividend payout ratio of 30% for the year.

From left to right: Mr. Yan Kwok Ting Sunny, Director of Investment, Corporate Finance & Investor Relations Department;Mr. Liu Yuk Tung, ChiefFinancial Officer; Ms. Liu Yi Man, Executive Director and Chief Executive Officer;Ms. Liu Wenqi, Chief Operating Officer;

Fully embracing AI and continuously promoting the industry-education integrationOver the past year, the Group witnessed … Read More