Ambow Education Clocks 10.8% Revenue Growth In Q2

by Shivani Kumaresan, Benzinga Staff Writer

September 20, 2021 2:10 PM | 1 min read |

Ambow Education Holding Ltd AMBO reported second-quarter FY21 sales growth of 10.8% year-on-year, to RMB 172.3 million ($26.7 million).
Gross profit rose 25.7% to RMB 75.9 million ($11.8 million), and the margin expanded 530 basis points Y/Y to 44.1%.
The operating margin was 11.8%, and operating income for the quarter was RMB 20.3 million ($3.1 million).
The company held RMB 257.7 million ($39.9 million) in cash and equivalents as of June 30, 2021.
EPS was RMB 0.48 or $0.07, versus RMB 0.11 last year.
Price action: AMBO shares are trading lower by 5.67% at $1.49 on the last check Monday.