January 15, 2024
One on One Educational Services Limited (ONE)
Unaudited financials for the first quarter ended November 30, 2024:
One on One Educational Services Limited (ONE) for the first quarter ended November 30, 2024 reported a 69% increase in revenues totaling $91.85 million compared to $54.46 million in the corresponding three months last year.
Direct Cost amounted to $31.84 million (2023: $13.82 million), this represents an increase of 130% year over year. Consequently, gross profit increased by 48% to $60.00 million compared to $40.64 million for the first quarter ended November 30, 2023.
Other Income increased by 41% to close at $739,365 (2023: $525,958), while Administrative Expenses decreased by 22% from $50.92 million in 2023 to $39.56 million for the three months. As a result, Selling Expense for the first quarter amounted to $4.54 million, a 35% decrease relative to $6.95 million reported in 2023.
Operating Profit for the three months amounted to $16.65 million, a significant increase relative to the operating loss of $16.70 million reported in 2023. Finance costs totaled $4.85 million a 132% increase from the corresponding period last year. (2023: $2.09 million).
Profit Before Taxation for the first quarter ended November 30, 2024, amounted to $11.80 million relative to the Loss before Taxation of $18.79 million reported in 2023.
Taxation for the three months had a 79% decrease to reach $576, 808 (2023: $2.73 million) . Net Profit being total comprehensive income for the three months amounted to $11.22 million (2023: Net Loss of $21.52 million).
Consequently, Earnings Per Share for the three months amounted to $0.01 (2023: LPS: $0.01). The twelve month trailing LPS was $0.0049 and the number of shares used in these calculations was 1,900,000,000. Notably, ONE’s stock price closed the trading period on January 17, 2025 at a price of $0.93.
Balance Sheet Highlights
The company’s assets totaled $620.36 million (2023: $565.71 million). The movement in total assets was mainly attributable to a 26% increase in ‘Intangible assets’ amounting to $358.04 million (2023: $284.01 million).
Shareholder’s equity was $416.24 million (2023: $382.56 million), representing a book value per share of $0.22 (2023: $0.20).
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