Academies Australasia Reports Increased Losses

Academies Australasia Group Limited (AU:AKG) has released an update.

Academies Australasia Group Limited reported a slight increase in revenue, but a significant rise in losses for FY24, with a net loss after tax jumping by 270% compared to the previous year. The company’s financial struggles were compounded by non-cash impairments, resulting in a negative EBITDA. The new migration strategy announced in December 2023 has created uncertainty in the international education sector, impacting the group’s operations, although their domestic and Singapore businesses remain unaffected.

For further insights into AU:AKG stock, check out TipRanks’ Stock Analysis page.