Curro’s HEPS up 38% - CNBC Africa

Curro’s HEPS up 38%

Southern Africa

by Trust Matsilele 0

Curro Holdings Ltd's HEPS is up 38 for the year ended 31 December 2014. PHOTOS: propertywheel

The group said, earnings per share and headline earnings per share for the comparative period have been adjusted downwards by 0.3 cents compared to the audited annual financial statements for the year ended 31 December 2013.

The group also saw a surge in the number of learners by 37 per cent to 28 thousand from 21 thousand in 2013.

(READ MORE: Curro board approves r7.4 mln expansion plan)

Curro’s revenue surged 52 per cent to one billion rand in 2014 from 659 million rand in the previous comparable period.

The group’s earnings before interest, taxes, depreciation, and amortisation were also up 68 per cent to 192 million from 114 million rand in the same comparable period in 2013.

[DATA COH:Curro Holdings Ltd] reported to have generated up to 247 million rand, a 133 per cent rise from 106 million rand in 2013.

“This is due to the retrospective adjustment of the 2014 rights offer undertaken. The adjustment to basic and diluted weighted average number of shares in issue is an increase of 6.6 million shares due to the bonus element contained within the rights offer,” read the group statement.

(READ MORE: Curro set for a R1.5 billion expansion)

Curro opened in January 2015 with 42 campuses and the board is pleased to announce that Curro has achieved its prelisting objective of at least 40 campuses, five years ahead of its original target of 2020. Curro has grown by an additional 8 758 learners to 36 021 learners since January 2014.

The group, through its business models caters for learners from three months old to Grade 12. Curro also has a training institute focused on educator training at a tertiary level.

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