Diluted HEPS 40.2cps (+16.2% y-y).
Turnover increased by 8.3% y-y to R2 588m.
OPM increased by 100bps to 18.0%.
Expenses increased by 7.0% y-y with expense-to-sales decreasing from 83.0% to 82.0%.
No dividend.
Average learners for Curro schools increased by 0.6% y-y to 63 299 learners for the period end. Average learners for Meridian schools increased by 0.1% y-y to 9 459 learners for the period end.
Cash generated from operating activities up 2.8% y-y to R624m.
Curro’s tuition fees increased by 6.8% while discounts granted decreased to 6.1% of gross school fees (LY: 6.7%).
The group opened three new campuses, two in Namibia (Walvis Bay and Oshana) and one in Johannesburg (Barlow Park in Sandton) during this period. The two new campuses in Namibia are part of a joint venture.
