CAPE TOWN - Private higher education investment group Stadio Holdings, which lifted headline earnings per share 46 percent to 5.1 cents per share in the six months to June 30, is furthering its aim to become a multiversity with plans to consolidate its brands.
The group, spun out of Curro Holdings and listed in 2017, operates six institutions that offer 80 accredited programs, from Higher Certificates to Masters Degrees and Doctorates through contact, distance and online learning. Some 57 pipeline programs are being developed.
“The group will look to consolidate the programs...under a single brand, STADIO Multiversity so stakeholders can benefit from the marketing, operational and regulatory advantages of doing so," management said in a statement on Monday.
Good progress had been made, and all brands were anticipated to form part of STADIO Multiversity during 2020.
In the six months student numbers increased 10 percent to 28 280 from 25 789. Revenues increased 38 percent to R409 million. Earnings before interest, tax, depreciation and amortization increased 75 percent to R105m.
Net asset value per share was up 3 percent to 203 cents.
Revenue and headline earnings a share growth was due to organic growth of the institutions, inclusion of Prestige Academy’s results for the first six months to June 2019 and a better financial performance at Milpark.
Milpark’s student numbers contracted by 7 percent to 9 166 students, but revenue was up 14 percent.