China Education Group Holdings Limited (HK:0839) has released an update.
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China Education Group Holdings Limited anticipates a significant decline in net profit for FY2024, expected to range between RMB420 million and RMB590 million, compared to RMB1,541 million in FY2023, primarily due to potential impairment losses. However, excluding these non-cash impairments, the Group projects a non-IFRS net profit increase of up to 10.3%, driven by a rise in full-time student numbers. These financial expectations reflect adjustments to goodwill in certain regions and potential policy changes in Australia affecting the company’s operations.
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