Press release from Business Wire
CIBT Ranked by the Globe and Mail's Report on Business
Tuesday, July 02, 2013
CIBT Ranked by the Globe and Mail's Report on Business16:00 EDT Tuesday, July 02, 2013
VANCOUVER, British Columbia (Business Wire) -- CIBT Education Group Inc. (TSX: MBA / OTCQX: MBAIF)(“CIBT Group”) is pleased to report that the Company has been ranked No. 562 on the “Top 1000: Exclusive rankings of Canada's most profitable companies” by The Globe and Mail's Report on Business Magazine published on June 27, 2013. The companies being ranked are the 1,000 largest publicly traded Canadian corporations, measured by assets. Rankings are based on after-tax profits in the most recent fiscal year, excluding extraordinary gains or losses. In recent years, CIBT Group has continuously focused on streamlining operations, achieving greater synergy and economies of scale and implementing high margin business models to improve profitability. As an attestation of such effort, CIBT Group's ranking moved up 211 spots from our 2011 ranking.
To access the ranking please visit: www.cibt.net/globe&mail/
"We are pleased to be recognized by Globe and Mail's Top 1000 list” commented Toby Chu, Vice-Chairman, President & CEO. “For the past two years, we have executed several streamlining strategies to grow our organization at reduced cost. We remain focused on the domestic and global education sectors and we will continue to fulfill our corporate objective of delivering high quality western education to the global education market using advanced interactive technology supplemented by traditional brick-and-mortar campuses. We feel that our expanding geographical footprints and business presence in 18 countries gives CIBT Group a solid foundation to fulfill our vision to becoming a global education leader. This achievement reflects the strength of our services and the dedication of our entire domestic and international team in Canada and abroad. As the global education market approached a $3 trillion market size in 2010 and revenue generated from the international education sector in Canada reached record high of $8.5 billion, we saw tremendous opportunities to continue our growth momentum by expanding our domestic infrastructure and global recruitment network in emerging countries around the globe.”
“CIBT's vision is to export western education to international markets using professional grade video conferencing technology, complemented by attracting international students to North America for advanced study and work experience. This combined approach allows for lower cost of content delivery, higher quality education and better financial management oversight thereby capitalizing on the fast growing international education market without emerging market risks. In coming years, CIBT expects to see its profit margin continue to grow steadily. In addition to The Globe and Mail's ranking, CIBT was also ranked Top 100 Public Companies in BC by Business in Vancouver newspaper, and Top 500 Canada's Fastest-Growing-Companies by PROFIT Magazine in 2013.”
About CIBT Education Group:
CIBT Education Group Inc. is an education management company focused on the global education market since 1994. Listed in Canada on the Toronto Stock Exchange and in the U.S on the OTCQX International, CIBT Group owns and operates a network of business, technical and language colleges in North America and Asia. CIBT Group offers cooperative joint programmes in 18 countries with over 50 campuses, recruitment offices and training centers enrolling over 13,000 students annually. Its subsidiaries include Sprott Shaw College (established in 1903), Acsenda School of Management, CIBT School of Business China, and King George International College. Through these subsidiaries, CIBT Group offers Western and Chinese accredited business and management degrees, programmes in college preparation, healthcare, hotel management and tourism, English language training, English teacher certification, junior and high school preparation programmes for overseas study, and other career/vocational training. CIBT Group also owns Irix Design Group, a leading design and advertising company based in Vancouver, Canada, Global Career Center (“GCC”), and Global Education Alliance (“GEA”). GCC is a job placement call center located in the Philippines dedicated to providing employment services to CIBT Group graduates for free throughout their careers. GEA is the premier solution for international students wishing to enter elite kindergarten, primary, secondary schools and universities in North America. Visit us online at www.cibt.net.
On behalf of the Board of Directors,
Vice-Chairman, President & CEO
CIBT Education Group Inc.
Investor Relations Contact: 604.871.9909 | Email: email@example.com
Some statements in this news release contain forward-looking information (the “forward-looking statements”) about CIBT Education Group Inc. (“CIBT Group”) and its future plans. Forward-looking statements are statements that are not historical facts. The forward-looking statements in this news release are subject to various risks, uncertainties and other factors that could cause the company's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. With respect to statements in this news release as to expectations for the future growth and performance of the Company, these risks, uncertainties and other factors include, without limitation, uncertainty as to the company's ability to achieve the goals and satisfy the assumptions of management; and general economic factors and other factors that may be beyond the control of the company. Forward-looking statements are based on the beliefs, opinions and expectations of the company's management at the time they are made, and CIBT Group does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change.
CIBT Education Group Inc.
Toby Chu, 604-871-9909
Vice-Chairman, President & CEO