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The latest announcement is out from iCollege Ltd. ( (AU:NXD) ).
NextEd Group Limited, a company listed on the ASX, has announced its financial results for the first half of the fiscal year 2025, ending December 31, 2024. The company is navigating a challenging regulatory environment with a focus on financial discipline and operational efficiency. The results show a 21% year-over-year decline in revenue to $47 million, primarily due to government restrictions on international student enrollments. Despite a net loss after tax of $8.3 million, NextEd has implemented cost-saving measures and operational improvements, including a 74% growth in vocational course revenue for international students in healthcare and hospitality. The integration of International House has led to the re-enrollment of over 1,900 students, expected to generate more than $13 million in future revenue. The company is also exiting under-utilized sites to enhance efficiency and is conducting a strategic review with findings expected in Q4 FY25.
More about iCollege Ltd.
Average Trading Volume: 102,017
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: A$30.96M
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