Scholar Education Group anticipates significant profit surge

Scholar Education Group (HKEX:1769) has announced a positive profit alert, forecasting a substantial increase in revenue and net profit for the year ended December 31, 2024. The group anticipates revenue of at least RMB835 million, representing a rise of at least 46.3% compared to RMB570.6 million in 2023. Net profit is projected to be no less than RMB140.0 million, an increase of at least 62.8% compared to RMB86.0 million last year. Additionally, adjusted net profit attributable to shareholders is expected to reach at least RMB165.0 million, up at least 52.8% year-on-year. The company attributes the growth to increased tutoring hours, improved operational efficiency, and successful business initiatives. The company's strategic development in Guangdong Province, particularly the restart of business in Guangzhou, is expected to further contribute to its long-term development. The annual results are expected to be published in March 2025.