Key Highlights of FY23 Results

EDU Holdings Limited (ASX: $EDU) has reported a strong financial performance for the fiscal year 2023. The company's revenue increased to $21.6 million, marking a significant growth from the previous year's $17.7 million. The net profit after tax for FY23 improved to $1.8 million, reflecting the company's positive momentum and operational efficiency. The growth in enrolments and revenue demonstrates EDU's resilience and strategic positioning in the education sector.

Executive Commentary on Performance and Strategy

The company's ambitious product development program and renewed focus on growth through acquisition have contributed to the positive momentum in both the Higher Education (HE) and Vocational Education & Training (VET) segments. The operational highlights include a 44% increase in higher education enrolments, a rebuilding of vocational enrolments, and a strong shift to online learning for domestic students. Furthermore, EDU's qualifications are aligned with occupations facing critical skills shortages, providing potential pathways to skilled migration, which is a significant value proposition for the company.

Outlook and Future Growth Strategy

Looking ahead, EDU Holdings anticipates further operating leverage as student numbers continue to grow. The company's deep education sector experience and significant equity interest position it well for continued growth and resilience in the face of changing visa and migration settings. With a positive outlook for FY24, EDU aims to continue its investment in product development, which is expected to have a revenue impact from FY25. The company's focus on delivering higher value courses, longer study durations, and an expanded course portfolio reflects its commitment to meeting the evolving needs of the education sector. EDU Holdings remains optimistic about the future, with a strong emphasis on driving productivity, efficiency gains, and integration of its operations.