New Oriental Education's Profit Surges 776% in Fiscal Q4

MT Newswires Live07-29

New Oriental Education & Technology Group (HKG:9901) recorded attributable net income of $62.2 million for the three months ended May 31, up 776% from $7.1 million a year prior.

The company saw earnings per share of $0.04 in the fourth fiscal quarter, according to a Wednesday Hong Kong bourse filing.

The private educational services company's revenue climbed 23% to $1.53 billion from $1.24 billion previously, mainly due to a higher revenue from its new educational business initiatives.

For the fiscal year ended May 31, attributable net income increased 28% to $475.2 million year over year, with revenue jumping 16% to $5.66 billion.

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