Consumer China

New Oriental (EDU:NYSE)

  • Published 10 Dec 2009

The private education provider is focused on consolidating operations and boosting margins at its learning centres across China.

Recent financials:Net profits at the private education provider hit $57.1m (Rmb 390m, €38.6m, £35m) in the first quarter of fiscal 2010 ending August 31 2009, up 27.1% year on year. Revenues during the period were up 26.3% year on year to $149.4m. Still, the results posted were lower than expected with the company citing the H1N1 flu pandemic, which hurt student enrolment figures. Students cancelled courses and some local governments temporarily shut down schools during the period to prevent the spread of the virus. Total student enrolments figures, however, were still up by 18.7% year on year to 647,500.

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