SINGAPORE: Education group Informatics Education reported a net loss of $4.9 million for the 12 months to March 31, reversing from a profit of $164,000 a year ago.
It said this was owing to lower revenue, the lack of income recognition for deposits received in the previous year, and higher staffing costs.
Full-year revenue fell 33 per cent to $15.9 million, compared with the same period a year ago, mainly owing to a lower number of students enrolled in the Singapore and British operations.
The firm said Britain’s business was affected by the Ebola outbreak in Africa during the financial year.
