Hailiang Education Group, an education and management service provider of primary, middle, and high schools in China, has reported net profit of ¥245.6 million (£27.1 million) for the second quarter of fiscal year 2021 ending 31 December 2020, compared to a net profit of ¥219.2 reported for Q2 2020.

Revenue for the quarter was ¥638.5 million, up 22.9% from ¥519.5 million reported for the second quarter of fiscal year 2020.

The Hangzhou, Eastern China-based company also announced its results for the six-month period ending 31 December 2020. Net profit was ¥270.9 million, up from ¥199.8 million reported for the same period a year prior. Net profit attributable to the company’s shareholders was ¥268 million, an increase of 31.3% from ¥204.1 million for the same period the year before.

Revenue for the six-month period was ¥937 million, up 25% compared to ¥749.4 million reported for the previous fiscal year.

Hailiang Education chairman and chief executive Dr Junwei Chen said: “We are very pleased to see that the company’s business has shown strong resilience during the Covid-19 pandemic. With the stabilisation of the Covid-19 pandemic in China, the company’s business has gradually returned to normal and achieved encouraging results for the reporting periods.

“As we improve the quality of our primary, middle and high school educational services and ancillary educational services, we are confident that, as one of the market leaders, we will gain more market share and drive long-term profit growth for shareholders in the future.”

Date published: 11 March 2021

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