Private school group Curro has seen a slight drop in learners, with the JSE-listed company expecting to see a large drop in earnings following a R74 million impairment.\u00a0<\/p>\n\n\n\n
In a trading statement for the first half of the year, Curro said that the weighted average number of learners was 71,749, representing a decrease of 1.4% compared to the previous comparable period.<\/p>\n\n\n\n
More positively, the group reported a 10% increase in net cash generated from operating activities.\u00a0<\/p>\n\n\n\n
It also noted that it continued to deliver returns to shareholders, having repurchased and cancelled 10.8 million shares during the period for a consideration of R116 million. <\/p>\n\n\n\n
\u201cThis share buyback underscores the company’s confidence in the group’s prospects and its commitment to enhancing shareholder returns,\u201d it said.<\/p>\n\n\n\n
\u201cThe group remains focused on generating cash flows ahead of capital expenditure requirements, ensuring a robust financial position to support its long-term strategy.<\/p>\n\n\n\n
However, as part of the required impairment assessment of land-banked properties acquired and held by Curro for future development, it needed to recognise an impairment charge of R74 million. <\/p>\n\n\n\n
The adjustment reflects updated valuations and development assumptions for specific land parcels, it said. <\/p>\n\n\n\n
The impairment charge will materialise Curro\u2019s earnings per share (EPS) for the six months. <\/p>\n\n\n\n
Although the impairment is included in the calculation of EPS, it is added back for Headline EPS and Recurring Headline EPS. <\/p>\n\n\n\n
The impairment accounts for the expected decrease of over 20% in EPS for the period, while HEPS and RHEPS are expected to be substantially similar.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" Curro is expecting a large decrease in earnings following a massive R74 million impairment. <\/p>\n","protected":false},"author":10,"featured_media":827871,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[8043],"class_list":["post-835714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-curro"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/835714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=835714"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/835714\/revisions"}],"predecessor-version":[{"id":835719,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/835714\/revisions\/835719"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/827871"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=835714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=835714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=835714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Metric<\/th> Reported results (30 June 2024)<\/th> Expected results (30 June 2025)<\/th> % Change<\/th><\/tr><\/thead> RHEPS<\/td> 40.2 cents<\/td> 39.0 to 41.3 cents<\/td> Between a decrease of 3.0% and an increase of 2.7%<\/td><\/tr> HEPS<\/td> 40.2 cents<\/td> 39.0 to 41.3 cents<\/td> Between a decrease of 3.0% and an increase of 2.7%<\/td><\/tr> EPS<\/td> 40.2 cents<\/td> 24.4 to 26.7 cents<\/td> Decrease of between 39.3% and 33.6%<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n