Evolve Education (ASX:EVO) reports $13.3M loss

Company News

by Katrina Bullock

Evolve Education Group (ASX:EVO) has reported EBITDA of $8.2 million for the financial year ended 31 March 2020.

Revenue came in at $140.6 million, beating last year’s $137.2 million.

The company made a net loss after tax of $13.3 million. This loss however, is dwarfed by the previous year’s loss of $101.6 million which prompted the company to revamp its board to reduce board fees, streamline its support office and reduce the amount of fee discounting.

During the 2020 financial year Evolve expanded into Australia by acquiring 10 new centres.

Shares in Evolve Education Group (ASX:EVO) are trading 4.55 per cent higher at 12 cents.

Katrina Bullock

Finance News Network
Katrina is a respected TV journalist, as well as a renowned presenter and award winning lawyer. She holds a Bachelor of Laws (Honours 1st class, division 1), a Bachelor of Business (with Distinction) and is currently undertaking a PhD in Law focused on stock exchange disclosures and corporate governance. She began her career as a corporate lawyer in an Australian top tier commercial law firm and is currently the General Counsel of Greenpeace Australia Pacific. In 2020 Katrina was named one of the 30 best lawyers in Australia under 30 by Lawyer's Weekly.