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Stadio grows earnings as enrolments rise


Stadio grows earnings as enrolments rise

Published Date: 2021-02-18 | Source: Stephen Gunnion | Author: Stephen Gunnion

Stadio grows earnings as enrolments rise

The private tertiary education group says it saved on costs as it altered teaching and learning practices during the lockdowns.

Stadio managed to grow student numbers by 10% last year and complete the 2020 academic year on time despite the challenges posed by Covid-19. It also completed the merger of a number of its brands, which will result in a number of benefits.

In a trading statement, the private tertiary education group said enrolments rose to 35,031 last year, contributing to a big rise in bottom-line earnings. Apart from organic growth, it acquired the remaining 26% in Southern Business School (SBS), which has since been transferred to the single Stadio brand along with LISOF and Prestige Academy. It said various cost saving initiatives, including savings arising from the alteration of various teaching and learning practices to accommodate students during the various lockdowns, supported its financial performance.

For the year to end-December it expects to report a 21% to 41% increase in core headline earnings per share (HEPS), which amounted to 10.8c in 2019. It uses core HEPS, which exclude certain non-recurring or non-cash items, to measure its underlying performance. Including fair value adjustments and non-cash impairments of intangible assets, it said it would report a loss per share of between 13.8c and 15.5c for the year, while its headline loss would range between 7.7c and 9.4c per share.

Stadio's annual results are scheduled for release on 15 March.

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