Curro flags earnings uptick

Curro has flagged a climb in earnings for its year to end December, but it has still felt pressure in terms of pupil numbers, and writedowns to its campuses.Headline earnings per share are expected to rise by between 9.3% and 17.5% in its year to end December, from earnings of R426 million, while basic earnings per share could double or triple off a much lower base. Curro had reported an after-tax profit of just R32 million in its 2023 year, when it saw R378 million in writedowns, which are excluded from headline earnings.For 2024, writedowns are expected to be between R340 million and R380 million, it said, with the group identifying eight campuses, that had previously been impaired, which have seen further reduction due to slower than anticipated learner growth. Two campuses are anticipated to be impacted by the closure of steel manufacturing operations in their respective catchment areas, it said.Valued at about R7 billion on the JSE, Curro operated 81 campuses with 189 schools at the end of June, while it said its pupil numbers have fallen to 72 109 as of 10 February, from 72 553 at the end of November. It has reported just over 72 000 at the end of December 2023.Consumer spend remains constrained and the group's enrolment has not benefited from moderating inflation and the gradual easing of interest rates over the last few months, it said on Tuesday.Shares of Curro were down 1.5% in morning trade but had still risen almost 18% on a one-year basis.-FIN24

Curro flags earnings uptick

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Curro flags earnings uptick

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