SISB Records 33% Profit Growth in 1Q24 with Significant Increase in Number of Students

SISB Public Company Limited (SET: SISB) has announced its 1Q24 consolidated financial statement through the Stock Exchange of Thailand as follows;

Year 1Q24 1Q23
Net Profit (Loss)
Million Baht
211.92 159.03
Earning Per Share
0.2300 0.1700
% Change 33.26

SISB reported a net profit of THB 211.92 million in 1Q24, with net profit margin at 37.04%, an increase from the same period of previous year of THB 159.03 million. The increase in net profit was due to the increase in the revenue and most administrative expenses of the company are fixed.

The company’s revenue from sales and services for the 3-month period ended 31 March 2023 and 2024 were THB 425.88 million and THB 560.91 million respectively. Revenue increased by THB 135.03 million or 31.71%. This mainly came from the opening of new schools (Nonthaburi Campus and Rayong Campus), higher number of students both Thai students and Foreign students and increased tuition fee of AY2023/2024.

Tuition fee income for Q1’2023 and 2024 was THB 406.45 million and THB 540.15 million respectively, increasing by 32.89% resulting from the number of students increased from both Thai students and Foreign students from 3,003 to 3,892 (excluded the number of students from Singapore Interna- tional School Chiang Mai). In addition, average tuition fee income per student increased from THB 0.55 million to THB 0.56 million per student or 0.97%, mainly came from the opening of new schools in Nonthaburi and Rayong, majority of students were in nursery, kindergarten and primary level and increased tuition fee of AY2023/2024 which is related to the industry and increased in staff remunerations.

As of 31 March 2024, SISB had 4,278 students, comprising 3,100 Thai students and 1,178 foreign students. The total number of students grew from 3,284 students at the end of the first quarter of last year.