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Asia Strategic Holdings Ltd on Monday said the company benefitted from strong revenue growth amid an internal restructuring. The London-listed company with is a developer and operator of consumer businesses in emerging Asia. In the first half ended March 31, its pretax loss widened to $2.6 million from $2.3 million the previous year. Revenue rose 26% to $14.4 million from $11.5 million. Cost of services increased 25% to $6.1 million from $4.9 million. Top-line growth in the period was driven by the company’s Myanmar Education and Vietnam Education division, which saw revenue growth of 42% and 3%, respectively. Meanwhile, the Service division returned to growth with revenue up 33% year-on-year due to improved commercial positioning and the introduction of high value added services. Chief Executive Officer Enrico Cesenni said: ‘Asia Strategic now operates seven brands across two countries. To support robust growth, the group reorganised its administrative offices into shared service functions, providing scalable, high-quality service to onboard and support new businesses. As schools mature and core competencies are established across shared service functions, the group is on track to achieve better cost efficiency and sustainable returns in the coming years.’ Looking ahead, the company expects market conditions to improve with the Asian Development Bank forecasting Asia gross domestic product growth of 4.9% in 2024 and 4.9% in 2025. Furthermore, inflation in the region is trending downwards to a forecast 3.2% in 2024 and 3.0% the next year. Asia Strategic shares were untraded in London on Monday afternoon, last quoted at $7.00. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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