Bright Scholar Education Holdings Ltd. (BEDU), a Chinese education service provider, announced its first-quarter financial results on Friday. The company reported a net income of £4.0 million, a decrease from last year's £6.6 million.
The net income per American Depositary Share (ADS) from continuing operations was £0.13, down from £0.16 in the previous year. The adjusted net income stood at £4.4 million, falling from £5.1 million for the same period last year, with corresponding adjusted income per ADS at £0.14, compared to last year's £0.16.
The revenue from continuing operations was £44.7 million, which reflects a decline from the £53.3 million reported a year ago. However, revenue from Overseas Study Counseling saw a 5.8% increase, reaching £9.6 million.
On January 22, BEDU's board of directors approved a share repurchase plan for up to $1.2 million of the Company's ADSs, to be executed over the coming 12 months.
Cindy Zhang, the Chief Financial Officer of Bright Scholar, commented, "The fiscal year 2025 has begun positively, marked by a notable reduction in Selling, General, and Administrative (SG&A) expenses and year-over-year growth in our Overseas Study Counselling business during the first quarter."
