Bright Scholar Education Q1 Profit Drops On Weak Revenues

(RTTNews) - Bright Scholar Education Holdings Ltd. (BEDU), a Chinese education service provider, reported Friday that its first-quarter net income was 4.0 million pounds, compared to 6.6 million pounds last year.

Net income per ADS from continuing operations were 0.13 pounds, compared to 0.16 pounds a year ago.

Adjusted net income was 4.4 million pounds, compared to 5.1 million pounds for the same quarter last year.

Adjusted net income per ADS were 0.14 pounds, compared to 0.16 pounds in the prior year.

Revenue from continuing operations was 44.7 million pounds, compared to 53.3 million pounds a year ago.

Overseas Study Counselling revenue from continuing operations increased 5.8% to 9.6 million pounds.

On January 22, BEDU's board of directors authorized a share repurchase plan for up to $1.2 million of the Company's ADSs over the next 12 months.

Cindy Zhang, Chief Financial Officer of Bright Scholar, said, "Fiscal year 2025 is off to an encouraging start, highlighted by a significant reduction in SG&A expenses and year-over-year growth in our Overseas Study Counselling business in the first quarter."