Shares in tertiary education group Stadio Holdings surged as much as 13.2% to R3.77 on Monday morning — the most in two weeks — after the company said it made a net profit of R77.3m in the year to December, from a loss of R5.1m in 2017.
“The group experienced good growth in its contact-learning students, driven largely by the expansion of the Embury Musgrave campus as well as the opening of the two new Embury campuses in Montana and Waterfall,” Stadio said. “We continue to look at ways of improving collections and facilitating funding mechanisms to assist students with their funding needs where appropriate,” the company said.
Since it was also finalising a debt facility, the group said it had no plans to raise capital from shareholders in the short term.It said it had reached agreements to buy vacant land in Durbanville in the Western Cape, and was considering land deals in Gauteng.
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