Overseas Education has reported FY2023 earnings of $6.7 million for the year ended Dec 31, 2023, up 27.4% y-o-y. Revenue in the same period was up 14.4% y-o-y to $84.5 million.
The company, which runs the Overseas Family School, plans to pay a dividend of 1.3 cents, up from 1.1 cents paid for the preceding FY2022.
Overseas Education attributes the better turnover to higher student enrolment during FY2023.
In its earnings commentary, the company says it expects the inflow of expat families to continue to recover.
"The group is cautiously optimistic that the student enrolment will improve in tandem with Singapore’s FDI policies despite the ongoing geopolitical tensions and challenging global economic environment."
However, the company warns that the foreign system schools’ landscape and the operating environment will remain competitive and challenging amid new entrants, rising costs and a high inflationary environment.
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Overseas Education shares last traded at 22 cents, down 17.31% in the past 12 months.
