sur Global Education Communities Corp (isin : CA37961F1053)
GECC Reports Decline in Q1 2025 Financial Performance
Global Education Communities Corp. (GECC) has released its financial results for the first quarter of fiscal 2025, ending November 30, 2024. The company's total revenue decreased by 20% compared to Q1 2024, totaling $17,752,000. Net income attributable to shareholders showed a decline of 161%, translating to a net loss of $2,159,000.
Domestic education and student housing sectors showed stability, while international education faced a 37% revenue decline due to federal policies limiting international student enrollment. Despite a decrease in interest rates and strategic debt reductions, GECC encountered a 27% reduction in finance costs.
GECC's rental housing division observed a shift towards domestic tenants. However, challenges in the international sector continue, prompting operational adjustments. The company remains engaged in addressing market demands through expansions in student housing.
R. H.
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