South Africa/September 01, 2022/Source: https://businesstech.co.za/
Private higher education group Stadio on Tuesday (30 August) reported strong growth in both earnings and student numbers for the six month period ended June 2022.
Revenue increased 13% to R617 million, while student numbers increased 11%, from 34,494 to 38,348.
Core headline earnings per share grew by 17% to 11.3 cents per share – due to the underlying organic growth in EBITDA, it said.
Started as a subsidiary of Curro Holdings, Stadio was unbundled in 2017, and listed separately on the JSE. It currently owns three registered private higher education institutions:
- Stadio Proprietary Limited (Stadio Higher Education);
- Milpark Education Proprietary Limited (Milpark); and
- The South African School of Motion Picture Medium and Live Performance Proprietary Limited (AFDA).
Stadio said that distance learning student numbers reflected good overall growth of 14% to 32,686, while strong demand for professional qualifications drove solid growth in registrations for the six months reporting period.
The group currently has 87 programmes that are certificated, with an additional 31 programmes across both contact and distance learning modes of learning delivery in the process of development and/or accreditation.
During the period, it obtained certification for 5 new programmes, including programmes in Law, Accounting and Commerce, and received site extensions for various qualifications, “which will enable the group’s growth strategy to be implemented”.