tiprankstipranks
Trending News
More News >

Kip McGrath Exits USA Operations Amid Financial Restructuring

Story Highlights
Kip McGrath Exits USA Operations Amid Financial Restructuring

Don’t Miss TipRanks’ Half-Year Sale

Kip McGrath Education Centres Limited ( (AU:KME) ) has shared an announcement.

Kip McGrath Education Centres Limited has announced its decision to cease funding and exit its USA operations, including the closure of its Frisco tutoring center, due to unsustainable business models and operating losses. This move will result in the USA operations being reported as a discontinued business, with associated costs and asset write-offs impacting the company’s financials. Despite these challenges, Kip McGrath anticipates an increase in underlying revenue and EBITDA for FY25, excluding the USA operations, and is reviewing its capital management strategy.

More about Kip McGrath Education Centres Limited

Kip McGrath Education Centres Limited operates in the education industry, providing tutoring services. The company focuses on delivering educational support to students through various tutoring centers and online platforms.

Average Trading Volume: 68,654

Technical Sentiment Signal: Sell

Current Market Cap: A$23.9M

For an in-depth examination of KME stock, go to TipRanks’ Overview page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1