SEGi is no greenhorn when it comes to growth and I reiterate that SEGi performed commendably for the financial year 2009 and years previous to this. For 2010, however, I am proud to declare that SEGi has fared tremendously well. Yet again, SEGi has not only hit but outdone the target the Group set for itself.
The 30.6% jump in revenue for 2009 appears dwarfed by the leap in 2010. SEGi’s full year profit after tax for the year ended 31 December 2010 rose an incredible 322 % to RM43.2 million from RM10.2 million.
Revenue during the 2010 period increased 30.8 % to RM217.6 million from RM166.4 million in the previous year, whereas the net cash flow from operating activities improved to RM65.5 million from RM29.0 million.
This multiple fold growth was made possible by a combination of internal and external factors. Within the year, SEGi University College had already launched a string of homegrown programmes on top of value-adding existing diploma and twinning degree programmes offered by the Group.
The Group also benefited from the expanding market for local tertiary education due to rising costs abroad, and due to government initiatives for the education sector under the Economic Transformation Programme (ETP) and the 10th Malaysia Plan. SEGi is actively involved in the ETP especially as an appointed champion provider of early childhood and child care training to teachers and care-givers nationwide.
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But of course it isn’t always about the profits and bottom line. In 2010, the Group surpassed previous efforts in terms of Corporate Responsibility (CR). Perhaps the most influential of our CR initiatives in 2010, and one which had a great positive impact on local communities, was the launch of our Mobile Clinics project offering free health services to the public throughout the country. By capitalising on our strengths and our existing national and international collaborations, as well as focusing on the development of new and strategic partnerships, SEGi has become one of the leading institutions in providing quality education. With these and other ongoing initiatives, SEGi is poised for greater growth in 2011 and beyond.
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