Stadio has achieved significant operational expansion in the past six months, with enrolment numbers up 10% at 47,024 students in the first semester.
And this month the private education provider passed the milestone of having 50,000 students enrolled across its three registered private higher education institutions, with numbers increasing to 50,435 from 46,912 in August 2023.
Of the total number of students reported at the interim stage, 87% were remote, while 13% were contact learners. The number of distance learning students was at 40,702, up 10% from the previous comparable period, while the number of contact learners was at 6,322, up 9%.
Stadio CEO Chris Vorster was particularly optimistic about registrations of new contact learning students, which increased by 14% for the period. According to the company, this follows the group’s strategy of accrediting new programmes and expanding the offering of qualifications at existing sites.
“We are particularly encouraged by the positive growth in new students on our contact learning mode of delivery,” said Vorster. “This supplements the growth opportunities evident in the distance learning mode and supports the decision to construct our new comprehensive campus in Durbanville.”
“While we experienced valuable growth, we do recognise that consumers remain under pressure given the tough economic climate and the impact this has on the ability to afford higher education offerings.
“There nevertheless continues to be a high demand for our offerings as students invest in themselves to create more prosperous opportunities. Stadio therefore continues to improve its offerings to deliver on its vision of widening access to quality higher education as well as becoming a first-choice higher education institution in SA.”
Higher enrolment numbers fuelled strong interim financial results for Stadio, which reported a profit after tax of R144m for the six months to end-June, up from 127m in the first half of 2023. Stadio also reported a 16% increase in revenue, with earnings before interest, tax, depreciation and amortisation (ebitda) increasing 12% to R236m.
Headline earnings per share were up 20% at 16.2c, while net asset value per share climbed 2% to 216c. According to Stadio, this was “primarily due to organic growth in the underlying institutions and lower growth in depreciation for the period”.
“Furthermore, profit attributable to the parent was positively impacted by the additional 15.4% shareholding acquired in Milpark Education, substantively effective on December 31 2023.”
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