REG - Fairview Intnl PLC - Unaudited interim results to 31 December 2025
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RNS Number : 3097W Fairview International PLC 12 March 2026
Fairview International PLC
("Fairview" or the "Company" or the "Group")
Half Yearly Report
Interim Management Report and Unaudited Condensed Interim Financial Statements
for the six-month period ended 31 December 2025
Fairview, the operator of international schools following the International
Baccalaureate curriculum, is pleased to provide its unaudited interim results
for the six-month period ended 31 December 2025 ("H1 2026") and provide an
update on year-to-date trading. Comparative data is provided for the six
months ended 31 December 2024 ("H1 2025") unless otherwise stated.
Financial Highlights
· Revenue increased by 7.1% to £2.98 million (H1 2025: £2.78
million)
· New student enrolments and applications show a 1.8% improvement on
student numbers, net of graduating students
· Gross profit increased to 53.3% (H1 2025: 50.4%)
· Profit before tax increased by 121.8% to £1.22 million (H1 2025:
£0.55 million)
· Profit after tax rose by 257.7% to £0.93 million (H1 2025: £0.26
million)
· Earnings per share 0.16p (H1 2025: 0.08p)
Operational Highlights
· Fairview's academic results continue to be a key differentiator.
For the sixth consecutive year, the Kuala Lumpur campus was ranked in the top
100 International Baccalaureate ("IB") schools globally and second in
Malaysia.
· Marketing efforts in Malaysia and in Asia Pac are showing
increasing traction with families
· Developing close contacts with UK Universities to build a path for
graduates seeking international teaching qualifications and experience.
· Exploring expansion of the Group's schools premises in Malaysia.
· Initial exploration of property development opportunities at the
School site in Johor Bahru.
Dr Vincent Chian, Chief Operating Officer of Fairview, discusses the Company's
operations and H1 2026 with focusIR
here: https://media.focusir.com/FairviewInternational1H26Results
(https://media.focusir.com/FairviewInternational1H26Results)
Business review and developments
Alongside continued operational progress within the Group's schools, the Board
is progressing a detailed business review focused on both strengthening
earnings generation from the Group's education IP and hybrid delivery
capabilities, as well as clarifying Fairview's long-term positioning beyond
individual school assets. As referred to previously, an important element in
future proofing Fairview is ensuring that the Company has a sustainable supply
chain of new teachers. The recent Memorandum of Understanding, entered into
between the Arts University Bournemouth and University College Fairview, for
an exploratory partnership to examine creative education collaboration in
Malaysia, provides the opportunity for UK students and graduates to enjoy work
experience and take post graduate teaching roles in the Fairview network of
schools.
The Group's campus in Johor Bahru is also set to benefit operationally, and
through property development opportunities, from the Johor-Singapore Special
Economic Zone (JS-SEZ), a landmark cross border economic region covering 500
km(2) across southern Johor State.
Outlook
Fairview entered 2026 with 723 students enrolled across our two schools,
representing a 1.8 per cent increase from 1 July 2025. The increase in
enrolments and applications is particularly encouraging given the additional
resources we have invested in marketing our schools since the IPO. These
initiatives are beginning to show positive results and we expect this momentum
to continue ahead of the start of our FY26/27 academic year.
Daniel Chian, Chairman of Fairview, said: "I am pleased to present our interim
results for the six months ended 31 December 2025. The Group's half year
results are based on the continued hard work of the executive team, to whom
considerable thanks is due, the quality of our underlying operational systems
and the robustness of our business model. We are one of very few companies
from Malaysia to achieve this milestone and, likewise, one of very few
international school businesses to be quoted on a global stock exchange. The
exposure that this has given us, as well as the validation of the quality of
our management, should not be underestimated and we are already seeing how
this distinction is benefitting our schools.
"Since completing our IPO, we have continued to assess opportunities to expand
our business, examining both acquisitions and new builds, applying the
criteria of economic growth, demand for quality education and sustainability
in their assessments. As well as South-East Asia, and Asia generally, which
holds a number of attractions given the rising demand for international
education, the United Kingdom continues to present opportunities, reflecting
both the positive attitudes of Asian families towards International education
and the growing interest in the IB curriculum.
"We believe that our team has the skills and experience to adapt to the
challenges presented by global economic conditions and to continue to build
the business by capitalising on the opportunities that are expected to arise
through the rest of 2026 and beyond."
For further information, please contact:
Fairview International PLC
Daniel Chian, Chairman via focusIR
Website: www.fairviewplc.uk
focusIR (Investor Relations)
Kat Perez Tel: +44 (0) 7881 622 830
kat.perez@focusIR.com (mailto:kat.perez@focusIR.com)
Notes to Editors
About Fairview International PLC
Fairview International PLC is an IB-focused education group headquartered in
Malaysia. The Company owns and operates two private independent schools
offering the IB programme - one in Kuala Lumpur and one in Johor Bahru, near
the Singapore border. Founded in 1978, the Fairview brand has developed a
long-standing reputation for academic excellence and IB delivery. The Kuala
Lumpur campus is recognised as the flagship school and has been ranked among
the top IB schools globally in recent years. The Johor Bahru campus serves a
diverse and internationally focused student base, including families connected
to the Singapore market.
In addition to its owned campuses, three other schools in Malaysia and one in
the United Kingdom trade under the Fairview brand under licence arrangements.
These schools are under common control but are held outside the Group. All
Fairview-branded schools are individually accredited by the International
Baccalaureate Organisation to deliver the IB Primary Years and Middle Years
Programmes, with Fairview Kuala Lumpur also authorised to offer the IB Diploma
Programme.
Beyond operating schools, Fairview is developing scalable education services
designed to strengthen earnings resilience and long-term growth. These include
teacher training pathways, hybrid and online learning capability, and codified
academic systems that support both its own campuses and potential partner
institutions.
The Directors believe that rising demand for internationally recognised
qualifications across ASEAN and Asia generally, combined with increasing
global mobility among families, creates attractive opportunities for
high-quality, repeatable IB-focused education systems.
Website www.fairviewplc.uk (http://www.fairviewplc.uk/)
Social media https://x.com/fairviewplc (https://x.com/fairviewplc)
https://www.linkedin.com/company/fairview-international-plc/
(https://www.linkedin.com/company/fairview-international-plc/)
Chairman's Report
I am pleased to present our second set of interim results since joining the
London Stock Exchange in October 2024. Our IPO marked a significant milestone
in the development of Fairview. We are one of very few companies from Malaysia
to achieve this milestone and, likewise, one of very few international school
businesses to be quoted on a global stock exchange. The exposure this
provides, together with the validation of the quality of our management and
academic model, should not be underestimated and we are already seeing how
this distinction is benefitting our schools.
One of our most significant KPIs is student numbers. The mid-year typically
sees a seasonal decline, often due to expatriate job relocations at the
calendar year end, and 2025 was no exception. However, we entered 2026 with
723 students enrolled across our two schools, representing a 1.8 per cent
increase from 1 July 2025. The increase in enrolments and applications is
particularly encouraging given the additional resources we have invested in
marketing our schools since the IPO. These initiatives are beginning to show
positive results and we expect this momentum to continue ahead of the start of
our FY26/27 academic year.
Since our IPO, the Board has also undertaken a review of how Fairview can
build upon its strong academic reputation and operational platform. While the
Group currently operates two owned campuses within the Fairview network, we
believe the longer-term opportunity lies in developing Fairview as a scalable
education platform combining high-quality campus delivery with codified
academic systems, teacher development pathways and hybrid learning capability.
The Board believes Fairview has the potential to evolve from a small number of
owned campuses into a scalable international education platform combining
high-quality physical schools with codified academic systems, hybrid delivery
capability and teacher development pathways. This approach will allow the
Group to expand both through increased income generated from physical campuses
and through the broader application of its educational systems and academic
expertise.
Our campuses currently operate significantly below their maximum student
capacity, providing substantial organic growth potential with relatively
limited incremental cost. As enrolment grows, the inherent operating leverage
within the Group's business model becomes increasingly evident. Alongside
this, we are exploring ways to leverage the Group's academic systems and
digital capabilities to support future hybrid and international delivery
models. These initiatives, together with selective expansion opportunities and
the development potential associated with our Johor Bahru site, provide the
Board with confidence that Fairview is well positioned to build a broader and
more resilient international education platform over time.
Since completing our IPO, we have also continued to assess opportunities to
expand our business, examining both acquisitions and new developments using
criteria such as economic growth, demand for quality education and long-term
sustainability. South-East Asia remains an attractive region for international
education, while the United Kingdom continues to present selective
opportunities, particularly as some schools face structural pressures from
changing regulatory and cost environments. The Board remains disciplined in
evaluating such opportunities and will prioritise those that strengthen the
Group's long-term strategy and operational platform.
Despite the seasonal impact on student numbers, we nevertheless increased
revenues for the period by 7.1 per cent to £2.98 million (2024: £2.78
million). This growth was primarily driven by increased student enrolment
together with ancillary revenue streams such as excursions, expeditions and
school services.
The continued focus on managing our operating and administrative cost base has
improved our gross profit margin for the period to 53.3 per cent (2024: 50.4
per cent). As enrolment continues to grow, we expect the operating leverage
inherent within the Group's model to support further improvements in financial
performance.
The Group also expects to benefit from the roll out of the Johor-Singapore
Special Economic Zone (JSSEZ), which is expected to drive economic development
and population growth in Johor Bahru over the coming years. This creates
additional opportunities for student enrolment growth as well as potential
development opportunities associated with the Group's site in Johor Bahru.
Looking ahead, the Board believes Fairview is well positioned to capitalise on
the growing global demand for high-quality international education. By
combining strong academic outcomes, a disciplined operating model and the
continued development of scalable educational capabilities, we believe the
Group has the potential to build a larger and more resilient international
education business over time.
Financial review
Profit from ordinary business activities before tax of £1.22million (2024:
£1.12m) and profit after tax of £0.93 million (2024: £0.26 million)
increased mainly due to the continuous costs control for the operations,
lesser professional fees at the schools level and the absence of the
exceptional costs associated to the Company's IPO and those related to the
pre-IPO group reconstruction in the current period (2024: £0.58 million),
which are one-off in nature. The Board continues to manage its budget tightly
and the Company benefits from resource sharing within the Fairview network.
No significant purchases of fixed assets were made in the current period. The
increase in the carrying amounts are mainly reflects the strengthening of
Ringgit Malaysia ("RM") against the Sterling ("£"), where £1.00 is
convertible to RM5.45 as compared to RM5.77 on 30 June 2025.
The Company entered into a Sale and Purchase Agreement in the previous
financial year ended 30 June 2025 for the disposal of an asset held for sale
for a total cash consideration of £990,000. The disposal was completed in the
current period with a gain on disposal of £35,000.
The increase in current assets is primarily due to receivables from sister
schools relating to central office cost allocations by Fairview Kuala Lumpur,
as at the balance sheet date, which will be settled in the normal course of
operations.
There are no major changes to the current liabilities other than the unearned
portion of the school fees as at 31 December 2025 compared to the balance as
at 30 June 2025, as slower payment of school fees are generally observed
during the month of December due to the holidays at the calendar year-end.
Long term liabilities reduced as the Group continued to repay respective bank
borrowings.
The increase of total equity to £7.04 million as at 31 December 2025 from
£5.76 million as at 30 June 2025 is contributed by the net earnings for the
current six months and the foreign exchange reserve due to the stronger RM
against £, arising from the translation of the financial statements of the
foreign operations whose functional currencies are different from that of the
Company's presentation currency.
Both of Fairview's schools have the capacity to accommodate significantly
higher student numbers, with maximum capacities of 1,500 students in Kuala
Lumpur and 750 students in Johor Bahru. With the Group currently operating at
around one third of this capacity while already trading profitably, the
potential economies of scale within the business model provide a strong
foundation for future growth.
Related Party Transactions
Significant related party transactions have been disclosed in Note 21 to the
unaudited condensed interim financial statements. There are no material
changes to the related party transactions disclosed in the last Annual Report
for the year ended 30 June 2025.
Principal Risks and Uncertainties
The principal risks and uncertainties which have been identified below and the
steps which are taken by the Board to mitigate them are disclosed in further
detail within the Company's Annual Report for the year ended 30 June 2025. The
Board does not consider these risks and uncertainties to have changed
materially during the six months ended 31 December 2025 and these risks are
considered to remain relevant for the final six months of the financial year.
Principal Risks:
· Regulatory risk
· Competition
· Safeguarding
· Operational risk
· Expansion risk
· People risk
· Information systems and cyber-risk
· Financial risks (Liquidity, Credit and Currency risks)
· Fraud risk
Principal Uncertainty
The Board considers a potential economic downturn to be the principal
uncertainty facing the Company's business.
Responsibility Statement
We confirm that, to the best of our knowledge:
(a) the condensed set of financial statements, prepared in accordance
with International Accounting Standard ("IAS") 34 as contained in United
Kingdom ("UK") adopted International Financial Reporting Standards ("IFRS"),
gives a true and fair view of the assets, liabilities, financial position and
profit of the Company and its undertakings taken as a whole;
(b) the Interim Management Report includes a fair review of the
information required (important events during the first six months and a
description of the principal risks and uncertainties for the remaining six
months); and
(c) the Interim Management Report includes a fair review of the
information required relating to related party transactions that have
materially affected the financial position or performance in the first six
months and any material changes to the related party transactions described in
the last annual report.
Auditors' Involvement Statement
These condensed consolidated interim financial statements have not been
reviewed or audited by the Company's auditors.
Daniel Chian
Chairman
12 March 2026
Fairview International PLC
Condensed Consolidated Statement of Comprehensive Income
For the six months ended 31 December 2025
Six months Six months 12 months ended
ended ended
31 December 2025 31 December 2024 30 June
2025
Note (Unaudited) £'000 (Unaudited) £'000 (Audited) £'000
Revenue 3 2,982 2,784 5,342
Cost of sales (1,394) (1,382) (2,606)
Gross profit 1,588 1,402 2,736
Other operating income 549 461 1,161
Administrative expenses (584) (359) (940)
Operating profit 1,553 1,504 2,957
Finance costs (339) (382) (779)
Profit from ordinary activities before taxation 1,214 1,122
2,178
Non-recurring reorganisation and IPO expenses 4 - (577) (878)
Profit before taxation 1,214 545 1,300
Income tax expense 5 (283) (284) (546)
Profit after taxation 931 261 754
Total comprehensive income
attributable to:
The shareholders of the Company 912 225 724
Non-controlling interest 19 36 30
931 261 754
Basic and diluted
20
earnings per share
attributable to the owners of
the Company (pence)
0.16 0.08 0.13
Alternative Performance Measure 0.16 0.27 0.28
Pro-forma basic and diluted 20
earnings per share before
non-recurring IPO costs
attributable to the owners of
Fairview International PLC
Condensed Consolidated Statement of Financial Position
As at 31 December 2025
31 December 2025 30 June 2025
(Unaudited) (Audited)
Note £'000 £'000
Non-Current assets
Property, plant and equipment 6 13,782 13,247
Right-of-use assets 7 1,550 1,473
Intangible assets 8 99 136
Total non-current assets 15,521 14,856
Assets held for sale 9 4,245 4,915
Current assets
Inventories 10 51 53
Trade receivables 11 20 26
Other receivables 12 7,427 6,061
Cash and bank balances 13 190 163
Total current assets 11,933 11,218
Total Assets 27,454 26,074
Current liabilities
School fee deposit payables 599 566
Other payables 14 1,292 981
Bank borrowings (secured) 15 4,195 4,154
Unearned portion of school fees received 1,413 1,153
Tax liabilities 421 343
7,920 7,197
Non-Current liabilities
Deferred tax liabilities 16 2,088 1,974
Bank borrowings (secured) 15 6,662 7,500
Other payables 14 3,740 3,648
Total non-current liabilities 12,490 13,122
Total Liabilities 20,410 20,319
Equity
Share capital 17 5,560 5,560
Share premium 18 2,176 2,176
Distributable 13,594 13,594
Exchange reserve 19 433 75
Minority interest 85 66
Merger reserve (16,440) (16,440)
Retained earnings 1,636 724
7,044 5,755
Total Equity and Liabilities 27,454 26,074
Fairview International PLC
Condensed Consolidated Statement of Changes in Equity
For the six months ended 31 December 2025
Share Share premium Total attributable to owners of parent
capital Merger reserve Exchange reserve Distributable Retained earnings Minority interest Total equity
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Balance at 1 July 2024 5,000 - (16,440) 34 13,889 - 2,483 36 2,519
Profit for the six months ended 31 December 2024 - - - - - 724 724 30 754
Dividends paid 295 - - - (295) - - - -
Bonus issue
Issuance of share capital 265 2,385 - - - - 2,650 - 2,650
Share issuance expenses - (209) - - - - (209) - (209)
Foreign currency translation - - - 41 - - 41 - 41
Balance at 30 June 2025 5,560 2,176 (16,440) 75 13,594 724 5,689 66 5,755
Share Share premium Total attributable to owners of parent Total equity
capital Merger reserve Exchange reserve Distributable Retained earnings Minority interest
£'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000 £'000
Balance at 1 July 2025 5,560 2,176 (16,440) 75 13,594 724 5,689 66 5,755
Profit for the six months ended 31 December 2025 - - - - - 912 912 19 931
Foreign currency translation - - - 358 - - 358 - 358
Balance at 31 December 2025 5,560 2,176 (16,440) 433 13,594 1,636 6,959 85 7,044
Fairview International PLC
Condensed Consolidated Statement of Cash Flows
For the six months ended 31 December 2025
Six Months ended Six Months ended 12 months ended
31 December 2025 31 December 2024 30 June
2025
(Unaudited) (Unaudited) £'000 (Audited)
£'000 £'000
Cash flow from operating activities
Profit for the period before taxation 1,214 545 1,300
Adjustments for:
Amortisation of intangible assets 45 85 101
Depreciation of property, plant and equipment 157 106 321
Depreciation of right-of-use assets 9 9 27
Gain on disposal of assets held for sale (35) - -
Interest expense 339 467 779
Interest income - (148) (246)
Operating cash flows before movements in working capital 1,729 1,064 2,282
Decrease/(Increase) in inventories 3 (28) 6
Decrease/(Increase) in trade receivables 6 (17) (18)
Increase in other receivables (1,250) (446) (361)
Increase/(decrease) in other payables 697 (1,257) (5,383)
Cash generated from/(absorbed in) operating activities 1,185 (684) (3,474)
Tax paid (227) (107) (424)
Net cash generated from/(absorbed in) operating activities 958 (791) (3,898)
Cash flows from/(for) investing activities
Purchase of property, plant and equipment (12) (24) (24)
Purchase of intangible assets (1) (20) (58)
Proceeds from disposal of assets for sale 873 - 2,031
Interest income received - 148 246
Net cash generated from/(absorbed in) investing activities
860 104 2,195
Cash flows (for)/from financing activities
Drawdown of borrowings - - 880
Proceeds from issuance of shares - 265 2,650
Proceeds from issuance of share premium - 2,107 -
Share issuance expenses - - (209)
Repayment of bank borrowings (798) (376) (1,437)
Dividend received - - 62
Interest paid (339) (467) (779)
Net cash (absorbed in)/generated from (1,137) 1,529 1,167
financing activities
Net changes in cash and cash equivalents 681 842 (536)
Cash and equivalent at beginning of period 163 1,083 1,083
Foreign exchange translation difference (1,012) (998) (425)
Effect of foreign exchange differences 358 127 41
Cash and equivalent at end of period 190 1,054 163
Fairview International PLC
Notes to the Unaudited Condensed Interim Financial Statements
For the six months ended 31 December 2025
1. Basis of Preparation
The interim consolidated financial statements of the Company are unaudited
condensed financial statements for the six months ended 31 December 2025.
These include unaudited comparatives for the six months ended 31 December
2024, and the audited results for the year ended 30 June 2025. These unaudited
condensed interim financial statements have been prepared on the basis of
merger accounting and the accounting policies expected to apply for the
financial year ending 30 June 2026 based on the recognition and measurement
principles of United Kingdom ("UK") adopted International Financial Reporting
Standards ("IFRS"), in accordance with the provisions of the Companies Act
2006, applicable to companies reporting under IFRS.
The unaudited condensed interim financial statements have been prepared under
the historical cost convention. The Group's presentation and functional
currency is Pounds Sterling ("£"). The unaudited condensed interim financial
statements do not include all of the information required for full annual
financial statements. The preparation of financial statements in conformity
with UK adopted IFRS requires the use of certain critical accounting
estimates. It also requires management to exercise its judgement in the
process of applying the Group's accounting policies. The accounting policies
adopted are consistent with those followed in the preparation of the Group's
annual financial statements of the Company's subsidiaries for the year ended
30 June 2025.
The unaudited condensed interim financial statements have been prepared on a
going concern basis which assumes that the Company will continue in
operational existence for the foreseeable future.
2. General information
The condensed consolidated unaudited financial information comprises the
financial information of the Fairview International PLC, Fairview Schools
Berhad and Fairview International School Nusajaya Sdn. Bhd. The principal
activities of these entities in the Group are as follows: -
Name of company Country of incorporation Principal activities
Fairview International PLC United Kingdom The parent company of a trading group and provision of management services
Fairview Schools Berhad Malaysia Operation of an English - Medium Private International School following the
international baccalaureate education syllabus.
Fairview International School Nusajaya Sdn. Bhd. Malaysia Operation of an English Medium Private International School following the
international baccalaureate education syllabus.
There have been no significant changes in these activities during the relevant
financial periods.
3. Revenue
31 December 2025 30 June 2025
(Unaudited) (Audited)
Revenue from contracts with customers: £'000 £'000
- School fees 2,615 4,972
- Application and enrolments 72 132
- Others 295 238
2,982 5,342
4. Non-recurring reorganisation and IPO expenses
Non-recurring administrative expenses amounting to £577,767 in the six months
ended 31 December 2024 and £877,961 in the twelve months ended 30 June 2025
relate to the Company's IPO which completed on 11 October 2024.
5. Income Tax expense
The tax charge on profits assessable has been calculated at the rates of tax
prevailing, based on existing legislation, interpretation and practices in
respect thereof.
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Current tax expense 283 509
Deferred tax relating to origination and reversal of temporary differences - (72)
Under provision of income tax in prior years - 109
283 546
Profit before taxation 1,214 1,300
Taxation at statutory rate 330 516
Difference in tax rate for chargeable income taxed - (6)
Expenses not deductible for tax purposes - 180
Non-deductible temporary difference - (8)
Income not subject to tax (47) (178)
Under provision of income tax in prior year - 109
Deferred tax - (67)
Tax expense for the period 283 546
6. Property, plant and equipment
Building Electrical equipment Freehold land Furniture and fittings Motor vehicles Resource equipment Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Cost
As at 1 July 2024 13,133 319 2,805 703 136 1,925 19,021
Additions 10 4 - 3 - 40 57
Foreign currency translation 256 6 54 14 3 37 370
As at 30 June 2025 13,399 329 2,859 720 139 2,002 19,448
Cost
As at 1 July 2025 13,399 329 2,859 720 139 2,002 19,448
Additions - 5 - - - 7 12
Foreign currency translation 779 19 166 42 8 118 1,132
As at 31 December 2025 14,178 353 3,025 762 147 2,127 20,592
Building Electrical equipment Freehold land Furniture and fittings Motor vehicles Resource equipment Total
£'000 £'000 £'000 £'000 £'000 £'000 £'000
Accumulated depreciation
As at 1 July 2024 2,764 317 - 699 133 1,860 5,773
Additions 272 2 - 3 3 40 320
Foreign currency translation 48 6 - 14 3 37 108
As at 30 June 2025 3,084 325 - 716 139 1,937 6,201
Accumulated depreciation
As at 1 July 2025 3,084 325 - 716 139 1,937 6,201
Charge for the period 139 1 - 1 - 16 157
Foreign currency translation 181 19 - 42 8 112 362
As at 31 December 2025 3,404 345 - 759 147 2,065 6,720
Carrying amount
As at 30 June 2025 10,315 4 2,859 4 - 65 13,247
As at 31 December 2025 10,774 8 3,025 3 - 62 13,872
7. Right-of-use assets
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Cost
At the beginning of period 1,649 1,617
Foreign exchange translation 96 32
At the end of period 1,745 1,649
Accumulated amortisation
At the beginning of period 176 146
Charge for the period 9 27
Foreign exchange translation 10 3
At the end of period 195 176
Carrying amount 1,550 1,473
8. Intangible assets
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Cost
At the beginning of period 712 676
Additions 1 24
Foreign currency translation 42 12
At the end of period 755 712
Accumulated amortisation
At the beginning of period 576 469
Charge for the period 45 100
Foreign currency translation 35 7
At the end of period 656 576
Carrying amount 99 136
9. Assets held for sale
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
At the beginning of period 4,915 6,812
Disposal (955) (2,031)
Foreign currency translation 285 134
At the end of period 4,245 4,915
10. Inventories
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Books, stationeries and uniforms for resale, at cost 51 53
11. Trade receivables
31 December 2025 30 June 2025 (Audited)
(Unaudited) £'000
£'000
Not past due 20 26
12. Other receivables
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Sundry receivables 395 195
Deposits 137 129
Prepayments 131 64
VAT recoverable 12 53
Amount due from related parties 6,752 5,620
7,427 6,061
Included in the sundry receivables is the proceeds receivable
for the disposal of an asset held for sale of £117,000 (2025: Nil).
13. Cash and bank balances
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Deposits placed with licensed banks 119 113
Cash at banks 71 50
190 163
14. Other payables
31 December 2025 30 June 2025
(Unaudited) (Audited)
Current £'000 £'000
Advance billings - 21
Sundry payables 1,292 960
1,292 981
Non-Current
School fee deposits 2,899 2,201
Sundry payables 841 1,447
3,740 3,648
Total 5,032 4,629
15. Bank borrowings (secured)
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Term loan 7,332 8,244
Revolving credit 1,647 1,561
Bank overdraft 1,878 1,849
10,857 11,654
Current
Term loan 1,406 1,439
Revolving credit 911 866
Bank overdraft 1,878 1,849
4,195 4,154
Non-Current
Term loan 5,926 6,805
Revolving credit 736 695
6,662 7,500
16. Deferred taxation
31 December 2025 (Unaudited) 30 June 2025 (Audited)
£'000 £'000
At the beginning of period 1,974 2,005
Recognised in Statement of Comprehensive income - (72)
Foreign currency translation 114 41
At the end of period 2,088 1,974
31 December 2025 (Unaudited) 30 June 2025 (Audited)
£'000 £'000
Tax effect on temporary differences in respect of:
Property, plant and equipment 2,108 1,992
Investment property 482 455
Provision (109) (102)
Unutilised capital allowance (325) (307)
Unearned school fees (68) (64)
2,088 1,974
17. Share capital
Authorised Nominal value 31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Ordinary £0.01 5,560 5,560
The Company was incorporated on 28 February 2024 with an initial capital of
£100, comprising 10,000 shares. Subsequently, the Company issued and
allocated 500,000,000 ordinary shares at a price of £0.01 per share on 10
June 2024, 29,490,000 ordinary shares at £0.01 per share on 3 October 2024,
and 26,500,000 ordinary shares on 11 October 2024.
18. Share premium
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Opening balance 2,176 -
Share issued - 2,385
Share issue costs - (209)
Closing balance 2,176 2,176
The share premium represents the amount received by the Company over and above
the nominal value of shares issued. This premium is recorded as a part of
equity under the 'Share Premium Account.' The share premium arises from the
issuance of shares at a price higher than their par or nominal value and is
used for purposes such as funding expansion, covering share issue costs, or as
required by statutory provisions. As of 31 December 2025, the balance in the
share premium account stands at £2,176,000.
19. Foreign currency translation reserve
Arising from the translation of the financial statements of the foreign
operations whose functional currencies are different from that of the
Company's presentation currency.
20. Basic and diluted earnings per share
The calculation of earnings per share is based on the following earnings and
number of shares.
31 December 2025 31 December 2024 30 June 2025
(Unaudited) (Unaudited) (Audited)
Weighted average number of ordinary shares for the purpose of basic and 556,000,000 294,055,315 541,000,000
diluted profit per share
Earnings per share
Total comprehensive income attributable to the shareholders of the Company 912 225 724
(£'000)
Basic and diluted earnings per share attributable to the owners of the Company 0.16 0.08 0.13
(pence)
Alternative Performance Measure (Pro-forma Earnings per share)
Total comprehensive income attributable to the shareholders of the Company 912 225 724
(£'000)
Add: Non-recurring IPO costs (£'000) - 577 878
Total comprehensive income (before non-recurring IPO costs) attributable to 912 802 1,602
the owners of the Company (£'000)
Pro-forma basic and diluted earnings per share before non-recurring IPO costs 0.16 0.27 0.28
attributable to the owners of the Company (pence)
21. Related party transactions
(a) Identities of related parties
i. The directors who are the key management personnel; and
ii. Entities controlled by the key management personnel, directors or
substantial shareholders.
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Total key management personnel compensation 98 170
(b) Significant related party transactions and balances
In addition to the transactions and balances detailed elsewhere in the
unaudited condensed interim financial statements, the Group had the following
transactions with related parties during the financial period:
Entity Relationship Type of transactions 31 December 2025 (Unaudited) 30 June 2025
£'000 (Audited)
£'000
Fairview Beaconhurst Limited Subsidiary of penultimate holding company of Fairview Schools Berhad Interest income from amount due from related companies in Fairview Schools 35 245
Berhad
Fairview International School Subang Sdn. Bhd. Related party with common director of Fairview Schools Berhad Rental income received in Fairview Schools Berhad 54 106
Fairview International College Sdn. Bhd. Related party with common director of Fairview Schools Berhad Rental income received in Fairview Schools Berhad 1 2
Beeducation Adventures Sdn. Bhd. Related party with common director of Fairview International School Nusajaya Travelling & transport charges charged by Beeducation Adventures Sdn Bhd. - 2
Sdn. Bhd.
Fairview International School Subang Sdn. Bhd. Related party with common director of Fairview Schools Berhad Administrative expenses charged by Fairview Schools Berhad 33 49
Fairview Schools Penang Sdn. Bhd. Related party with common director of Fairview Schools Berhad Administrative expenses charged by Fairview Schools Berhad 41 79
Fairview International School Ipoh Sdn. Bhd. Related party with common director of Fairview Schools Berhad Administrative expenses charged by Fairview Schools Berhad 26 49
22. Salary and number of staff
31 December 2025 31 December 2024 30 June 2025
(Unaudited) (Unaudited) (Audited)
Employee remuneration £'000 £'000 £'000
Salaries, workplace pension & social contribution 912 847 1,748
Other staff benefits 55 50 121
967 897 1,869
Employee remuneration is presented in the financial statements in the
following locations:
31 December 2025 31 December 2024 30 June 2025
(Unaudited) (Unaudited) (Audited)
£'000 £'000 £'000
Cost of sales 967 897 1,869
The employee remuneration present in the statement of financial position are
the capitalised development costs.
31 December 2025 31 December 2024 30 June 2025
Employee numbers (Unaudited) (Unaudited) (Audited)
Direct 159 171 181
23. Capital Management
31 December 2025 30 June 2025
(Unaudited) (Audited)
£'000 £'000
Total borrowings 10,857 11,654
Less: Cash and cash equivalents (190) (163)
Net Debt 10,667 11,491
Total equity 7,044 5,755
Debt-to-equity ratio 1.51 2.00
The Company's objectives when managing capital are to maintain a strong
capital base and safeguard the Group's ability to continue as a going concern,
so as to maintain investor, creditor and market confidence and to sustain
future development of the business. The directors determine the optimal
debt-to-equity structure that complies with both regulatory requirements and
debt covenants and monitor the ratio on an ongoing basis. No major changes
were made to the objectives, polices or processes during the financial periods
ended 31 December 2025 and 31 December 2024, and the financial year ended 30
June 2025.
24. Subsequent events
There were no significant subsequent events following the end of the period
under review.
25. Half Year Report
A copy of this interim report is available on the Company's website at
www.fairviewplc.uk (http://www.fairviewplc.uk) .
Fairview International PLC
Company Information
DIRECTORS: Ngook For Chian (known as Daniel Chian) Executive Chairman
Lim Hun Soon (known as David Lim) Non-Executive Director
Jeffrey Raymond Beard Non-Executive Director
Maurice James Malcolm Groat Non-Executive Director
Robin Stevens Non-Executive Director
SECRETARY: MSP Secretaries Limited Company Secretary
Eastcastle House
27/28 Eastcastle Street
London W1W 8DH
REGISTERED OFFICE: Eastcastle House
27-28 Eastcastle Street
London W1W 8DH, United Kingdom
REGISTERED NUMBER: 15528502
CONTACT DETAILS: Tel: +44 208 523 2828
Email: info@fairviewplc.uk
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