The foreign-language education platform corporations GOLD&S(035290) said on the 14th that first-half sales grew and the company swung to a profit following the inclusion of the Siwon School education business unit.
According to the company, GOLD&S posted first-half standalone sales of 13.4 billion won. That was up 211.2% from a year earlier. Operating profit and net profit came to 840 million won and 1.95 billion won, respectively, swinging to the black from a loss a year earlier.
GOLD&S said the improved results reflected expansion in business scale and streamlined integrated operations after acquiring the Siwon School education business unit in Jan. The company is integrating content development, marketing and information technology (IT) infrastructure to boost operational efficiency, while expanding education content from conversation to test English and second foreign languages based on Siwon School and Siwon School LAB.
According to the company, expanding artificial intelligence (AI) learning services is also helping improve profitability. It said it is diversifying learning services by combining AI-based repetitive learning and real-world conversation functions with existing lectures and strengthening the sales structure around high-margin services.
A company official said, "Since the inclusion of the Siwon School education business unit, both external growth and profitability improvement have been appearing to enhance corporate value," and added, "We will do our best to maintain our listing by continuing stable earnings growth while raising corporate value and shareholder value."