Customer receipts down on the year prior, with EBIT improving due to cost-efficiency measures being implemented.
So, this company basically isn't growing, which is surprising and goes against what has been said in the past.
The announcement includes the following four points:
• Some acquisitions have not delivered as planned over the past 3 years.
• Operating in an increasingly competitive environment particularly with investment in new technology, and a fast-changing external environment.
• Whilst Janison has achieved notable successes, the business has been overly driven by short-term targets.
• Opportunity to reset and refocus the business – to simplify, unify and be bold.
Basically the above is an admissions of poor management, poor acquisitions, difficult environment (with quantity and quality of startups in this space).
Further, the "advantage" that has been stated is not an advantage at all, as it covers most players in this field.
Our competitive advantage (why customers value us) is the unique combination of our:
• Assessment technology solution for the reliable, scalable and equitable delivery of large-scale and remote assessments globally.
• Track record.
• Australian heritage and global reach.
Who cares about your Aussie heritage, global reach (wow thanks for explaining how the internet works), and for describing every other edu-tech out there (reliable, scalable, equitable).
I'm out.
(20min delay)