Gold&S Achieves Operating and Net Profit Turnaround in Q2... Recovery in Online and Offline Education Business

Gold&S, a company specializing in English education, announced on the 14th that its operating profit and net profit on an individual basis for the second quarter of this year turned positive, recording 160 million KRW and 410 million KRW respectively. During the same period, sales increased by 19.3% year-on-year to approximately 2.7 billion KRW.

Gold&S offers online test English lectures through its premium online lecture brand, Siwon School Lab, including ▲TOEIC ▲TOEIC Speaking ▲OPIc ▲G-TELP ▲TEPS ▲TOEFL ▲IELTS ▲SPA ▲Duolingo English Test (DET).

In addition, its offline business operates the integrated English learning system "Talking Club Language Academy," equipped with the new ACE Program, and after-school programs that run computer classes for elementary schools.

Siwon School Lab, Gold&S’s flagship product centered on the "TOEIC Study Guide," achieved significant sales growth in the first half of this year. With a lineup of star instructors and efficient learning methods, it gained great popularity among students, increasing sales by approximately 243% compared to the second half of last year.

The offline education division, which had been sluggish for a long time due to COVID-19, is also regaining momentum. Inquiries about franchising Talking Club Language Academy are increasing, and after-school program operations are resuming.

A Gold&S representative said, “After five quarters, both operating profit and net profit have returned to the black, showing a full-scale recovery in performance. We will focus the company’s full capabilities on the simultaneous growth of both online and offline divisions to achieve a turnaround in annual performance this year.”