SISB’s Profit Grows with Increasing Number of Students, Recording 150% Hike to ฿52m in 2Q

SISB Public Company Limited (SISB) has reported its 2Q19 consolidated financial statement through the Stock Exchange of Thailand as follows:

SISB reported a net profit for 2Q19 of THB 52.04 million, increased 150.20% from a net profit of THB 20.80 million in 2Q18. SISB’s gross margin increased 29.25% from the same period of the previous year due to the increasing number of students and the ability to manage utilization of resources of teachers effectively and most administrative expenses are related to fixed cost which leads to an increase in net income.

SISB’s revenue for the 3-month period ended June 30, 2018 and 2019 was THB 226.92 million and THB 272.39 million respectively. Revenue increased by THB 45.47 million or 20.04%.

Tuition fee income for 2Q18 and 2Q19 was THB 209.46 million and THB 247.45 million respectively, increased by 18.14% due to the increase in the number of students to 2,375 or 9.75%. In addition, average tuition fee income per student increased to THB 0.42 million per student in June 2019, growing at 6.98% from the same period of the previous year.

Application and enrolment fee incomes of the company for 2Q18 and 2Q19 were THB 11.44 million and THB 14.14 million respectively. Application and enrolment fee increased by 23.62% from the same period of the previous year, due to the increase in the number of students.

Education equipment income for 2Q18 and 2Q19 was THB 2.02 million and THB 1.77 million respectively. Education equipment income decreased by THB 0.25 million or 12.65%, resulting from lower uniform income.