InvestSMART

Nexted Group Limited (ASX:NXD)

ALERT: Price-sensitive ASX Announcement for NXD
Current share price for NXD : $0.088 -0.052 (-37.14%)+
Announcement
Release
26 Feb 2025 8:01AM
Price at Release
$0.140
Full Release
download
Summary
NextEd Group Limited reported its Half Year FY25 results, highlighting a significant 21% decline in revenue compared to the previous period due to regulatory changes impacting international student enrolments. Despite these challenges, the company managed to achieve positive operating cash flows of $1.0 million and has implemented cost-saving measures that are expected to yield over $5 million in annualized savings. The financial standing remains stable with $13.7 million in cash and no debt. Furthermore, there was notable growth in certain segments, including a 75% increase in International Vocational students, though the Technology & Design segment faced a $5 million impairment due to ongoing government restrictions.
Key Points
  • Revenue declined by 21% YoY due to regulatory changes impacting international student enrolments.
  • Achieved positive operating cash flow of $1.0 million, an improvement of $2.9 million compared to the prior year.
  • Projected annualized savings of over $5 million with an additional $2 million secured for FY26.
  • Cash position stands at $13.7 million with no financial debt.
  • International Vocational segment saw a 75% growth, while Technology & Design segment experienced a $5 million impairment.
  • New courses launched to expand student options in competitive areas.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.