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US: Bright Horizons' annual profit grows

Childcare and early education group Bright Horizons Family Solutions has reported net income of $180.4 million for 2019, up from $158 million reported for 2018.

Revenue for the year was $2.06 billion, up from $1.9 billion reported for 2018.

The Watertown, Massachusetts-based company also reported results for the fourth quarter of 2019. Its net income for the period was $47.8 million, up from $46.7 million reported for Q4 2018.

Revenue for the quarter was $520.6 million, up from $478.2 million reported Q4 2018.

Bright Horizons chief executive Stephen Kramer said: “We are pleased to report strong financial results for the fourth quarter and full year 2019. Our solid financial results in 2019 reflect the positive momentum across our business and the results from recent investments we have made in our people and systems to strengthen our market position.

“As we look ahead to 2020 and beyond, we believe we are well-positioned to deliver on our growth plans. Equally important, I am especially honoured by the recent recognition we received from Bloomberg, Forbes and Fortune Magazine as leaders in creating inclusive workplaces for all of our employees. These awards help create real business value, validate our unique culture and reputation, and demonstrate to our clients the values of the Bright Horizons family.”

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Posted on: 14/02/2020

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