Aspen Group Limited (AU:APZ) has released an update.
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Aspen Group Limited has announced an optimistic increase in their FY24 earnings guidance to 13.5 cents per security, driven by strong demand in residential markets and an 18% year-over-year growth in bookings for their parks portfolio. The company’s strategic acquisition of a 36% stake in Eureka Group Holdings, valued at $58 million, aims to enhance shareholder returns, with plans to influence Eureka’s board composition and leadership. Aspen’s financial position remains robust, with a 27% gearing ratio and a 3.5x interest cover ratio, despite rising interest rates.
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