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Site Group International Limited (ASX:SIT)

ALERT: Price-sensitive ASX Announcement for SIT
Current share price for SIT : $0.001 -0.001 (-50%)+
Announcement
Release
31 Jan 2025 4:14PM
Price at Release
$0.002
Full Release
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Summary
Site Group International Limited reported its quarterly cash flow and operational activities for the quarter ending December 31, 2024. The company generated a revenue of $1.5 million but faced an EBITDA loss of $514,000 due to significant setup costs for its operations in Saudi Arabia. The cash position at the end of December stood at $179,000, impacted by delayed payments from a debtor in Papua New Guinea, which were subsequently rectified post-quarter. Key developments included progress in achieving full registration as a Higher Training Institute in Saudi Arabia, an increase in enrolments at Site Institute, and a successful $1 million capital raise to support growth initiatives.
Key Points
  • Revenue for the quarter was $1.5 million.
  • EBITDA loss of $514,000 due to setup costs for Saudi Arabia operations.
  • Cash position at the end of December was $179,000.
  • Delayed payments from PNG debtor rectified post-quarter.
  • Progress towards registration as a Higher Training Institute in Saudi Arabia.
  • Increased enrolments at Site Institute, reaching above 400 students.
  • Successful $1 million capital raise during the quarter.
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.