Schrole Group's strong start in FY24

Schrole Group Ltd (ASX: $SCL) has reported a remarkable increase in software sales for the months of January and February 2024. The company's HR software sales in January saw a 190% surge compared to the prior corresponding period (PCP), while February witnessed an extraordinary 1392% increase over PCP. Additionally, the company achieved its first sale to a UK independent school, marking a significant milestone in its global expansion.

Managing Director's perspective on the performance

Managing Director, Rob Graham, expressed his satisfaction with the company's performance, emphasizing the strong sales in the first two months of FY24 and the focus on improving renewal rates. He highlighted the strategic reset aimed at ensuring the long-term viability of the business and the proactive approach to supporting higher-value clients. Graham expressed confidence in the company's strategic initiatives, foreseeing continued growth and success in the international education sector.

Summary of Schrole Group's trading update

Schrole Group Ltd (ASX: $SCL) has demonstrated robust growth momentum in the early months of FY24, with substantial increases in HR software sales and a notable first sale to a UK independent school. The company's strategic reset to enhance customer success management and focus on higher-value clients has contributed to improved renewal rates and sustainable business growth. With a strong cash balance and no debt, Schrole is well-positioned to continue its expansion in the global education sector. The company's commitment to delivering value to its customers and driving sustainable business growth underscores its ambitions to lead in HR solutions for the international education sector.