Academies Australasia Group Limited (AU:AKG) has released an update.
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Academies Australasia Group Limited is fortifying its financial position amid challenges posed by the Australian Federal Government’s policies affecting international education, by securing $5.0 million in unsecured director loans to enhance operational flexibility. Despite a slight increase in revenue, the company is facing a significant downturn in profits and EBITDA, as evidenced by its unaudited management reports for the eleven months leading up to May 2024.
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