Cape Town - Curro on Tuesday said it had lifted headline earnings per share by 67 percent in the year to December, noting also that its “Class of 2015” matrics had “produced pleasing results”.
A statement from the private education provider added: “Of particular significance was the increase in the overall pass rate and bachelor degree pass rate for learners who wrote the National Senior Certificate exams.”
Headline earnings increased by 79 percent in the year under review, from R56 million to R100 million, on revenue that was up by 38 percent at R1.38 billion.
At the earnings-per-share level, the increase was 67 percent due to the increase in the weighted average number of shares in issue following the rights offer in May 2015. Earnings per share came in at 28.7 cents, up from 17.2 cents for the year before. No dividend was declared.
The company said it had invested R1 billion in growth and expansion projects during 2015 and intended to invest up to R2 billion in 2016.
The statement added that Curro plans to raise a further R1 billion in 2016 through an underwritten rights offer to fund growth.
ANA
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