Aspen Group Limited (AU:APZ) has released an update.
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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