Evolve awash with red ink on goodwill writedown

Sun, 26 May 2019

By Paul McBeth May 27 (BusinessDesk) - Evolve Education sank deeper into the red as it slashed the value of goodwill and has targeted a three-year turnaround backed by its recent capital raise The early education provider reported a loss of $101.6 million in the 12 months ended March, including a $107.1 million impairment charge on the goodwill of its early childhood education centres. That's now valued at $95.3 million. The company said declining occupancy rates and increased costs were behind the impairment charge. It had 123 centr...

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