Raffles Education net profit falls 58% to $3.11m in H1 FY2026

Revenue remains flat despite reversing a $0.32m operating loss from the past year.

Raffles Education Limited reported a net profit of $3.11m for the first half of FY2026 (H1 FY2026), down 58% from $7.36m a year earlier, according to a bourse filing.

This was despite the group recording an operating profit before income tax of $0.24m, reversing from an operating loss of $0.32m in the first half of FY2025.

Revenue hit $56.63m, compared with $56.55m in the previous corresponding period.

Adjusted EBITDA declined 4% to $17.02m in H1 FY2026, from $17.69m previously.

As at 31 December 2025, net assets stood at $669.65m, with net asset value per share of 39.33 cents.

Separately, shareholders approved the conversion of approximately $15.53m of bonds and loans into ordinary shares. The group also expects total cash proceeds of about $132.3m from the sale of 51 Merchant Road and Raffles Hefei.

The group is focused on growing our premium K–12 enrolments in the region, increasing student numbers in Malaysia and Thailand, and establishing a new K–12 school in Jakarta, said Chairman and CEO of Raffles Education, Chew Hua Seng.

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