Mengly J Quach Education Plc (MJQE), which operates schools, language centres and nurseries, saw net loss narrow to $256,927 in its third quarter ended September 30, 2023, compared to a net loss of $654,598 in the corresponding quarter last year.

Quarterly revenue grew 40.7 percent year-on-year (YoY) to $7.6 million from $5.4 million, according to its filing with Cambodia Securities Exchange on Friday.

The group’s operating profit rose nearly four times to 3.6 billion riel (approximately $870,070) in the quarter under review from 911.6 million riel a year ago.

The increase in revenue and operating profit was mainly due to an increase in tuition fees and student enrollment.

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Owing to the seasonality of its business, MJQE said it experiences a constant downward trend in its performance during the third fiscal quarter, primarily attributable to the absence of revenue from the American Intercon School during summer break.

“However, in the current fiscal year [ending December 31, 2023], we have successfully enhanced our operational efficiency, resulting in a noteworthy improvement in our bottom line.

“Specifically, the net loss for the third quarter in comparison to the second quarter, witnessed a substantial reduction of 1.6 billion riel or 61 percent decrease from 2.7 billion riel to 1.1 billion riel,” MJQE said.

For the cumulative nine-month period ended Sept 30, 2023, net profit surged 93 percent YoY to $3.0 million from $1.6 million, while revenue expanded 47.9 percent to $26.5 million versus $17.9 million in the same period last year.

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