Curro (COH) Results Snapshot FY21

Diluted HEPS increased by 12.4% y-y to 40.9cps, while revenue grew by +14.5% y-y to R3 543m. EBITDA margins remained stable, increasing 10bps to 22.3%. Expenses well maintained, decreasing by 10bps to 77.7%. Tuition fees increased by 11.8% due to growth in learners and inflationary increases. Dividend payments resumed with 8.2cps dividend declared.