Diluted HEPS 16.0cps (+20.3% y-y).
Turnover increased by 15.8% y-y to R826m.
Expenses increased by 16.0% y-y. Expense-to-sales increased to 75.4% from 74.5%.
OPM decreased by 10bps to 24.5%.
No dividend.
Contact learning student numbers for semester 1 increased by 8.9% y-y to 6 322 students.
Distance learning student numbers for semester 1 increased by 12.9% y-y to 40 702 students. Strong demand for professional qualifications continues to drive strong growth in registrations for the period.
Cash generated from operating activities up 39.3% y-y to R252m.
The Group utilised R100m of their rolling credit facility to fund the acquisition of the additional shares in Milpark Education, resulting in additional finance costs for the period. Finance costs were largely offset by the interest income earned on cash balances.
