Stadio says student numbers are up despite Covid-19

Private higher education group Stadio said on Wednesday that student enrolments so far in 2020 had outperformed expectations, with only 51 students dropping out specifically because of Covid-19.

By May 1 2020, Stadio had enrolled 31,047 students, reflecting a 10% increase over first semester enrolments in the same month last year, the group said in a trading update.Stadio was unbundled from Curro and listed separately in October 2017, but has not been immune to Covid-19, saying on Wednesday that it had resolved to delay the construction of its new multi-faculty Stadio Centurion campus. This was intended to open in 2021, but now is now expected to open in 2022.

The group also expects a more than 100% fall in headline earnings per share in its six months to end-June, partially due to writedowns of existing brands as its shifts to a single brand under the name of Stadio. The group is also facing additional acquisition costs related to its acquisition of CA Connect in March 2018. The acquisition had conditions related to profit targets, and enrolments have been better than expected, the group said.

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