Curro posts 13.4% jump in FY HEPS

Private education provider Curro Holdings has demonstrated its resilience in the face of challenging economic conditions by posting solid financial results for the year 2024. The company reported a 10.1 per cent increase in Recurring Headline Earnings, rising to R469 million from R426 million. Moreover, both Recurring Headline Earnings per Share and Headline Earnings per Share saw a substantial 13.4 per cent increase, reaching 83.0 cents per share, up from 73.2 cents in the previous period. Curro Holdings CEO, Cobus Loubser, credited the success to the company's dedication to providing learners with the best possible education, opportunities, and advantages. He expressed pride in the record achievements, participation, and success across academic, sporting, cultural, and community areas in 2024. Loubser highlighted the operational margin improvement, increased earnings per share, and dividend growth despite a challenging consumer environment. The key theme of Curro's success lies in its ability to adapt and innovate in response to the tough operating environment for private school institutions. Loubser emphasized the importance of offering different school models catering to diverse communities at various price points. The company focused on enhancing the price value proposition by improving the campus life experience and operational efficiency. Loubser mentioned the strategic investments in facilities and pricing architecture adjustments to attract market share, particularly in early childhood development. While facing impairments on lower yielding school assets, Curro remains committed to managing risks responsibly and sustaining its operations. Looking ahead, Curro plans to invest over 600 million rand in its operations in 2025 to maintain and improve facilities. Despite potential economic challenges, the company maintains a strong focus on providing quality education and expanding educational opportunities. Loubser expressed confidence in Curro's ability to navigate the future successfully. In conclusion, Curro Holdings' financial results for 2024 reflect its resilience, innovation, and commitment to quality education. Despite economic headwinds, the company's strategic measures have positioned it for continued growth and success in the coming year.