CIBT Education Group Inc.
(TSX: MBA / OTCQX: MBAIF)(“CIBT Group”) is pleased to report that the Company has been ranked No. 562 on the “Top 1000: Exclusive rankings of Canada’s most profitable companies” by The Globe and Mail’s Report on Business Magazine published on June 27, 2013. The companies being ranked are the 1,000 largest publicly traded Canadian corporations, measured by assets. Rankings are based on after-tax profits in the most recent fiscal year, excluding extraordinary gains or losses. In recent years, CIBT Group has continuously focused on streamlining operations, achieving greater synergy and economies of scale and implementing high margin business models to improve profitability. As an attestation of such effort, CIBT Group’s ranking moved up 211 spots from our 2011 ranking.
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"We are pleased to be recognized by Globe and Mail’s Top 1000 list” commented Toby Chu, Vice-Chairman, President & CEO. “For the past two years, we have executed several streamlining strategies to grow our organization at reduced cost. We remain focused on the domestic and global education sectors and we will continue to fulfill our corporate objective of delivering high quality western education to the global education market using advanced interactive technology supplemented by traditional brick-and-mortar campuses. We feel that our expanding geographical footprints and business presence in 18 countries gives CIBT Group a solid foundation to fulfill our vision to becoming a global education leader. This achievement reflects the strength of our services and the dedication of our entire domestic and international team in Canada and abroad. As the global education market approached a $3 trillion market size in 2010 and revenue generated from the international education sector in Canada reached record high of $8.5 billion, we saw tremendous opportunities to continue our growth momentum by expanding our domestic infrastructure and global recruitment network in emerging countries around the globe.”