Listed private school group Curro Holdings has advised that, while it expects an increase in interim earnings, the unbundling of its tertiary education subsidiary has been costly.
Curro has re-affirmed its intention to unbundle and list Stadio separately during the course of this year.
The group said on Wednesday that it expects earnings per share and headline earnings per share for the six months ended June 2017 will be between 26.4 cents and 27.5 cents per share compared to the 22.0 cents per share in 2016.
“Given the current development phase of Stadio, substantial expansion cost has been incurred,” Curro said.
It said that should Stadio be excluded from the company’s performance, the Curro schools business EPS and HEPS per share will be between 27.1 cents and 28.2 cents per share compared to the 20.2 cents per share before.
Curro said it expects to publish its results on about 15 August 2017.