Curro reports strong results, increase in pupil numbers

Curro Holdings has reported an improvement in all its 'key' financial metrics for the six months ended 30 June 2024.

The private schools group says it invested R306 million in its business during the first half of the year and plans to invest up to R700 million in capital projects during the full 2024-year.

Its average number of pupils grew by 0.5% to 72 758, from 72 385 in the previous period.

Revenue was up 8.3% to R2 588 million and headline earnings increased by 12.3% to R228 million

Headline earnings per share (HEPS) were up 16.2% to 40.2 cents per share.

Curro says its annual school fee increase averaged about 6% per learner.

In conversation with Stephen Grootes, CEO Cobus Loubser says their 'reasonable' revenue growth demonstrates how parents have continued to trust Curro with the education of their children despite challenging conditions.

"We certainly look forward to a cycle where interest rates come back a little bit and give families a little more room to breathe."

"Curro has over the years created different models with different executions tailored to the needs of different families at different price points, and that certainly helped us to cushion some of the economic blows."

"Our mission is to expand opportunities to as many learners as possible, and we're reasonably pleased that we came through the last two or so years with overall positive growth.in learner numbers despite tough conditions."

Cobus Loubser, CEO - Curro Holdings

Scroll up to listen t to the interview