External broker reports(aggregated public sources), CCZ Statton Equities

CCZ Statton Equities

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External broker reports(aggregated public sources)

Equity Bottom-Up

Kip Mcgrath Education Centres / Equity Bottom-Up

<ul><li>The sticker shock from the NPATA miss is understandable. However, this was driven by a one-off loss from Tutorfly and increased investment into the US.</li><li>KME’s core business appears to be performing strongly.</li><li>As a result, we expect KME’s earnings to improve in 2H23, which should highlight the upside from a successful corporate rollout and potential expansion into the US and Asia.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The sticker shock from the NPATA miss is understandable. However, this was driven by a one-off loss from Tutorfly and increased investment into the US.KME’s core business appears to be performing strongly.As a result, we expect KME’s earnings to improve in 2H23, which should highlight the upside from a successful corporate rollout and potential expansion into the US and Asia.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Kip McGrath - Tutorfly Hiding Strong Performance