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.
You might also like
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.
