Insights

iCollege (ASX:ICT) share price on watch following strong trading update

The iCollege Ltd (ASX: ICT) share price will be on watch this morning. This follows a positive trading update that was announced before yesterday’s ASX market glitch.
The post iCollege (ASX:ICT) share price on watch following strong trading update appeared first on Motley Fool Australia. –

asx share price on watch represented by young man looking intently through magnifying glass

The iCollege Ltd (ASX: ICT) share price will be on watch this morning. This comes after the company announced a positive trading update yesterday morning.  

Just minutes after the announcement, the ASX went into lockdown, restricting all trades due to a technical glitch. It will be interesting to see where the iCollege share price will end up today.

Before the halt, shares in the organisation were up 4.1% to 12.5 cents.

What does iCollege do?

iCollege is an Australian-based organisation, comprising 7 business that deliver accredited and non-accredited vocational education and training solutions.

The company operates throughout Australia, but services both domestic and international markets.

Trading update

For the period ending 31 October, iCollege reported a solid trading performance for the first four months of FY21. The company revealed it is on track to deliver record revenue and earnings for the half-year to the end of December.

So far, iCollege has recorded revenue of $5.6 million, and earnings before interest, tax, depreciations and amortisation (EBITDA) of $1.1 million. The company attributes the robust result to significant growth in its domestic training operations and its ability to rapidly address skill shortages.

iCollege received its first cash receipts from the Western Australian government-funded ‘priority industry training scheme’. In addition, revenue is also expected to flow in from its infection control skills set training, which is being delivered as a part of an $80 million federal and state government initiative.

Despite border closures, the company is beginning to witness a recovery in enrolments for international students who remained in Australia. For pupils who are abroad, iCollege has focused its efforts on sales and marketing programs. This has led to an uptick of international students commencing online courses in their home countries.

To expand its revenue streams, the company has rolled out an online coding boot camp for children, specialising in gaming.

What did management say?

iCollege managing director Mr Ash Katta commented on the record results:

Year to date, iCollege has performed exceptionally well and we are on track to deliver a record first half performance. As we have previously stated, the Company’s ability to rapidly adapt in extremely challenging market conditions highlights the resilience of our business model.

We expect November to be another strong month ahead of the traditionally quieter Christmas and New year period, but we are rolling out a series of short courses to boost revenue streams across these months. As well as our strong organic growth, we are using our balance sheet to acquire complementary businesses and scale up existing operations.

iCollege share price summary

The iCollege share price has been on the move in the last 5 months. Shares in the education and training provider have risen from 3 cents to 12.5 cents, representing a gain of 300%.

The company has a market capitalisation of $72.7 million, making it a small-cap ASX share with considerable room to grow.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post iCollege (ASX:ICT) share price on watch following strong trading update appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!