Up to the nine months ended September 30, SEGi posted a net profit of RM31.32 million, eclipsing that of RM14.37 million registered in 2003.
In the year ended 2009, SEGi posted sales of RM176.76 million, alongside a net profit of RM10.02 million.
Hii, formerly executive deputy chairman of the Star Publications (M) Bhd, said the quantum leap in net profit was possible because SEGi had started to cater for higher margin courses.
"Previously, we were providing lower margin courses, but now we have branched out to higher margin courses such as in the medical sector, engineering studies, creative arts and early child education studies," he said in an interview with Business Times at his office in Kota Damansara.
On the company's full-year profit for the year just ended, Hii declined to reveal specific targets, but noted that on average, SEGi has been posting some RM10 million in profits every quarter.
A potential RM10 million profit in the final quarter will help boost SEGi's profit for the year to about RM40 million, more than doubling its 2003 record profit year.
"Yes, the fourth-quarter results will be reflective of the previous quarters. For 2011, we also expect the overall pre-tax profit margin to imporove, and consequently the net profit margins. We expect the current year to be even better," said Hii.
He added that SEGi expects student enrolments to grow by as much as 25 per cent this year, mostly in the high-margin courses.
SEGi, which operates six campuses nationwide, services some 23,000 students in various courses. A 25 per cent growth in enrolment will help boost its university's student population to about 28,000 by year-end.
Hii also said the growth in revenue is sustainable and will be exponential.
"Where revenue grows, our cash reserves will also be strong," he added.
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