News

25 October 2012 | Education | LZYE Group plc

LZYE Open its Fourth Centre in Hong Kong

​LZYE Group, the AIM listed club-based children's educational programmes provider, has opened its fourth Creative Learning centre in Hong Kong.

Based in Tin Hau, one of Hong Kong's busiest districts, the 1,700 sq ft Centre has 4 staff and currently caters for 180 members. At this level it is expected to generate a monthly income of HKD150k (£12k). The Group intends to increase the capacity to 520 members by March 2014, at which point annual revenue is expected to be HKD4.8m (£385k), with no extra staff required.

This opening follows hard on the heels of LZYE's acquisition, last month, of its first set up in mainland China. These steps are in line with the Group's declared policy of strengthening its Hong Kong offering whilst expanding further into mainland China.

Michelle Lai, the Comany's CEO said, 'The Tin Hau Centre complements our existing Hong Kong Centres, offering the same range of innovative and stimulating programmes for children. We have spent HKD800,000 on renovating its four classrooms to top quality standards".

'It gives us an even better geographic spread and we anticipate that, due to its prominent high footfall location, the Centre will very quickly begin generating healthy revenue.'

The opening of the new centres in Hong Kong and China are discussed by management in the following broadcast provided by Brrmedia.

http://www.brrmedia.co.uk/event/105629/dominc-yeung-chairman-michelle-lai-ceo-jack-law-cfo

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