In the profit warning, EDVANTAGE GROUP expects net profit for the first half of the fiscal year to drop to 102 million RMB
EDVANTAGE GROUP (00382.HK) issued a profit warning. Based on the preliminary review and analysis of the group's unaudited consolidated management accounts for the six months ended February 28 this year, as well as other information currently available to the board of directors, it is expected that the net profit for the period will decrease to approximately RMB 102 million, compared to RMB 244 million for the same period last year.
The board believes that the decline in net profit is mainly due to a decrease in student enrollment; an increase in sales costs due to strategic investments; and goodwill impairment losses
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