Kingsley Edugroup Limited Provides Group Earnings Guidance for Six Months Ending December 31, 2019
January 15, 2020 at 02:01 pm IST
The Board of Kingsley Edugroup Limited unaudited consolidated management accounts of the Group for the six months period ended 31 December 2019 (the Reporting Period), the Group expected to record a loss after tax attributable to the Shareholders of the company. Based on the information currently available to the Board, while the Group expects to record an increase in revenue and gross profit in the international school segment during the current Reporting Period as compared to the corresponding period in 2018, the Board expects the Group to record a loss primarily due to the absence of liquidated and ascertained damages (LAD) payable by the construction contractor arising from the delay in completing KIS Annex Building and the continued loss suffered in the tertiary education segment.