VANCOUVER, BC / ACCESSWIRE / September 3, 2024 / Global Education Communities Corp. ("GECC" or the "Company") (TSX:GEC)(OTCQX International:GECSF) is pleased to announce that the Company is named one of the "Top 100 Fastest-Growing Companies in British Columbia1 in 2024" in the August 26, 2024 issue of Business in Vancouver ("BIV"). GECC is ranked No. 98 among the top 100 Fastest-Growing companies operating in British Columbia, with revenue growth of 10.7% from $70.997 million in fiscal 2019 to $78.603 million in fiscal 2023.
"We are proud to be recognized and to be ranked by Business in Vancouver which highlights the strength of our business model despite the economic challenges caused by post-pandemic events, high inflation, and the 2.5 years of high interest rates," said Toby Chu, Chairman, President and CEO of Global Education Communities Corp. "We will continue to execute on our growth strategy in expanding our student rental portfolio and advancing our education segments."
About GECC:
GECC is one of Canada's largest education and student housing investment companies focused on the domestic and global education market since 1994. GECC operates business and language colleges, student-centric rental apartments, recruitment centres and corporate offices at 40 locations in Canada and abroad. Its education subsidiaries include Sprott Shaw College (established in 1903), Sprott Shaw Language College, Vancouver International College, and CIBT School of Business & Technology. GECC offers over 150 educational programs in healthcare, business management, e-commerce, cyber-security, hotel management, emergency paramedics, and language training through these schools. In fiscal 2023, GECC serviced over 14,277 domestic and international students through its educational, rental housing and recruitment subsidiaries.
GECC owns Global Education City Holdings Inc. ("GECH"), an investment holding and development company focused on education-related real estate, such as student-centric rental apartments and education super-centres. In fiscal 2023, GECH operated fifteen properties under the GEC® brand in Metro Vancouver and provided accommodation services to 92 partner schools serving 3,200 tenants from 71 countries. The total portfolio and development budget under the GEC® brand exceeds $1.3 billion.
GECC also owns Global Education Alliance Inc. ("GEA") and Irix Design Group Inc. ("IRIX"). GEA recruits international students for elite kindergartens, primary and secondary schools, colleges and universities in North America. Irix is a leading design and advertising company based in Vancouver, Canada. Visit us online and watch our corporate video at www.GEChq.com.
For more information, contact:
Toby Chu
Chairman, President & CEO
Global Education Communities Corp.
Investor Relations Contact: 1-604-871-9909 extension 319 or | Email: info@GEChq.com
FORWARD-LOOKING STATEMENTS
Some statements in this news release contain forward-looking information (the "forward-looking statements") about GECC and its plans. Forward-looking statements are statements that are not historical facts. Forward-looking statements in this news release include, without limitation, the statement that GECC will continue to execute on its growth strategy in expanding its student rental portfolio and advancing its education segment. The forward-looking statements are subject to various risks, uncertainties and other factors (collectively, the "Risks") that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward-looking statements. The Risks include, without limitation, national and global economic factors and the other risk factors identified in the Company's management's discussion and analysis for the financial year ended August 31, 2023. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances should change, except as may be required by law.
SOURCE: Global Education Communities Corp
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