Raffles Education Limited (NR7) said on Feb, 16 2026 that it achieved an operating profit of 0.24 million Singapore dollars in the six months ended Dec, 31 2025, reversing an operating loss of 0.32 million Singapore dollars a year earlier.

Revenue was broadly flat at 56.63 million Singapore dollars, while adjusted EBITDA slipped 4% year on year to 17.02 million Singapore dollars. Net cash generated from operating activities rose 32% to 22.53 million Singapore dollars, supported by 14.81 million Singapore dollars in course fees collected in advance.

As at Dec, 31 2025, cash and bank balances increased to 35.20 million Singapore dollars and net gearing fell to 29%. Net assets stood at 669.65 million Singapore dollars, underpinned by substantial freehold property holdings, giving a net asset value of 39.33 Singapore cents per share.

Shareholders approved the conversion of about 15.53 million Singapore dollars of bonds and loans held by Chairman and Chief Executive Chew Hua Seng into ordinary shares at an extraordinary general meeting on Jan, 23 2026. A separate EGM on Feb, 3 2026 approved the divestment of 51 Merchant Road and Raffles Hefei, which is expected to raise total cash proceeds of about 132.3 million Singapore dollars.

The company said it intends to use its stronger balance sheet and operating cash flows to pursue growth opportunities, particularly in premium K-12 enrolments across ASEAN, while opening a new school in Jakarta.