EduFocal is reporting a loss of just over $79 million for the financial year ended December 2023.
The company says, during the comparative period ended December 2022, it recorded a loss of $179 million.
EduFocal says this is mainly due to an increased bad debt write off of $65.7 million and an impairment amounting to $38.4 million.
EduFocal posted increased revenues of $264 million for the financial year ended December 2023.
This is compared with the $187 million made in the corresponding period the prior year.
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