SISB Shows Improvement in 3Q, Booking ฿28Mn of Profit as Economy Recovers from Pandemic

SISB Shows Improvement in 3Q, Booking ฿28Mn of Profit as Economy Recovers from Pandemic.

SISB Public Company Limited (SISB) has reported its 3Q20 consolidated financial statement through the Stock Exchange of Thailand as follows;

SISB reported a net profit of 28.74 million baht in 3Q20, decreased 52.42% compared to the same period of last year. However, the profit in 3Q showed an improvement from the previous quarter which reported at 4.26 million baht, increased by 573%.

Revenues from sales and services of the company for the 3Q19 and 3Q20 were 281.35 million baht and 261.92 million baht respectively. Revenues from sales and services consist of Tuition fees and services income and Education equipment income which accounted for 98.28% and 1.72% of revenues from sales and services in 3Q20, respectively.

Tuition fee income for 3Q19 and 2020 was 263.59 million baht and 240.46 million baht respectively, decreasing by 8.77% resulting from mainly from a one-time support discount that the company set to help parents for the third semester, academic year 2019-20. Snack & lunch income, after-school activities income and field trips income also decreased due to school closed and students using Home-Based Learning. The average tuition fee income per student decreased to 0.41 million baht per student in September 2020, dropping by 7.08% from the same period of the previous year.

The company commenced the construction of a new Secondary Building at its Singapore International School Thonburi campus with a groundbreaking ceremony on 17 July 2020. SISB stated that it expected the building would be completed by August 2021. The project value is around 350 million baht.