Academies Australasia Group Limited (AU:AKG) has released an update.
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Academies Australasia Group Limited reported a slight increase in revenue, but a significant rise in losses for FY24, with a net loss after tax jumping by 270% compared to the previous year. The company’s financial struggles were compounded by non-cash impairments, resulting in a negative EBITDA. The new migration strategy announced in December 2023 has created uncertainty in the international education sector, impacting the group’s operations, although their domestic and Singapore businesses remain unaffected.
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