Curro results show lots of growth and development

The private education provider said headline earnings for the six months to June were up by 82 percent to R51 million, from R28 million in the corresponding period last year. Headline earnings per share increased by 68 percent, from 8.8 cents to 14.8 cents, because of the increased weighted number of shares in issue following the rights offer in May 2015.

Revenues were up by 45 percent, from R487 million to R705 million, in the period under review, which saw a 26 percent increase in learner numbers, from 28,737 to 36,085.

There are now 101 schools or 42 campuses, which is one or a combination of pre-primary school, primary school and/or high school, across the group. Curro plans to develop eight new schools (six campuses) to the value of R400 million this year. The company also said it would spend R600 million improving existing campuses, with additional classrooms and sport and cultural facilities, as well as investing R13 million in the further development of its curriculum.

Curro said it remained on track to achieve its vision of ’80@20', meaning 80 campuses (a total of 200 schools accommodating 90,000 learners) by 2020.

ANA