BUZZ-Australia's IDP Education tumbles on flagging impact from policy uncertainty

Reuters
03 Jun
BUZZ-Australia's IDP Education tumbles on flagging impact from policy uncertainty

** IDP Education IEL.AX plunges 37.4% to A$4.68, lowest since mid-June 2017

** Stock set for seventh consecutive session of losses

** Education services provider expects FY25 student placement volumes to drop by 28%-30%

** Says its key destination markets continue to be impacted by policy uncertainty, which is negatively impacting size of the international student market globally

** Sees adjusted FY25 EBIT to be in A$115 million - A$125 million ($74.67 mln - $81.16 mln) range

** YTD, IEL down ~41%

($1 = A$1.5408)

($1 = 1.5401 Australian dollars)

(Reporting by Kumar Tanishk in Bengaluru)

((Tanishk.Kumar@thomsonreuters.com; X: @thatstanishk;))

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