Image from Afya’s website

Brazilian medical education group Afya has reported third-quarter 2021 net income of 58 million reais (£7.8 million), down from 79.6 million reais reported for the third quarter of 2020.

Net revenue for the quarter was 454.4 million reais, up from 309.4 million reais reported for Q3 2020.

The Nova Lima-based company also reported results for the first nine months of 2021. Its net income for the period was 193.3 million reais, down from 247.1 million reais reported for the first nine months of 2020. Net revenue for the period was 1.22 billion reais, up from 855.9 million reais reported for the same period last year.

Afya chief executive Virgilio Gibbon said: “The results of this quarter reinforce that our strategy has been successful, marked by the consistent growth of our operational and financial results, with significant increases in net revenue and EBITDA. We hope to see, in the near future, the pandemic losing its strength and opening wide paths for education to return to its practical mode, pushing our students, employees, and partners to continue extracting the best from our acquisitions and digital services.”

Date published: 24 November 2021

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