Rises as quarterly revenue more than doubles

Afya

02/12/2019 16:34

** Brazil-based medical education group's shares  AFYA.O  up
10% at $30.40; Stock set for best day in two months
    ** Afya's quarterly net revenue more than doubles https://ir.afya.com.br/static-files/cb43c0b8-ab64-4bf0-b316-ec0a56977ffe
 to 206.7 mln reais ($49.3 mln), helped by similar jump in
number of students and average medical tuition fees
    ** Q3 net income also nearly doubles to about 49 mln reais
    ** Last month Afya announced acquisition of Rio de
Janeiro-based education institution UniRedentor for 225 mln
reais, adding 112 medical school seats with potential upside of
44 extra seats  urn:newsml:reuters.com:*:nASC0AHM6
    ** "We continue to explore attractive acquisition targets
that would fit in well with our strategy" - CEO
    ** Afya also reaffirms H2 outlook
    ** Earlier in the session, stock hit record high of $34.87
    ** Shares currently up 26% from closing price on IPO debut
on July 19 and 60% above its IPO price

 ($1 = 4.1964 reais)

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@ThomsonReuters.com))