Overview of Janison Education Group's FY24 interim report

Janison Education Group Limited (ASX: $JAN) has released its audited Interim Report for the six months ending 31 December 2023, showcasing disciplined financial performance with $22m group revenue and strong underlying growth in core Solutions business of +11%. The company also reported a $1.6m EBITDA and a significant improvement in free cash flow, up +$3m or +51% on the prior corresponding period (1H23). Janison Education Group maintains a robust financial position with cash at bank amounting to $9m.

Executive commentary on 1H24 performance and outlook

We are pleased with the disciplined financial performance and the significant improvement in free cash flow during the first half of FY24. The award of a 5-year $45m agreement for NSW state selective education placement digital transition and the expansion of new global assessment authorities have contributed to our strong revenue growth. We have also identified approximately $2m of annualised cost-out in 1H24, demonstrating our commitment to strong cost and cash flow focus. The appointment of Sujata Stead as the new leadership, commencing in 2024, reflects our dedication to driving the company's growth and success.

Summary of Janison Education Group's FY24 interim report and outlook

Janison Education Group's FY24 interim report reflects a disciplined financial performance, strong cash position, and a record contract win. The company's focus on cost and cash flow management has resulted in a significant improvement in free cash flow and a robust financial position with $9m in cash at bank. The award of a 5-year $45m agreement for NSW state selective education placement digital transition and the expansion of new global assessment authorities have contributed to the company's revenue growth. With the appointment of new leadership in 2024, Janison Education Group remains committed to driving growth and success in the education sector.