Curro de-risks the business
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The market marked private education provider Curro’s full year results as class leading. 2020 was a year of de-risking with R1.5bn rights issue, paydown of R1bn of debt and the dividend suspended as well as reduced capex (-35% for 2020). Planning R1.1bn in 2021.
As expected, some parents had a hard time in making school fee payments offered discounts and had a R146m increase in credit loss provision (48% of gross receivables at year-end) R58m. R185m of their receivables is a year old.
Michael Avery sat down with CEO Andries Greylingh, a man who has his fingers on the pulse of education to talk about whether parents can still afford private education in the lower end in the current environment?
As expected, some parents had a hard time in making school fee payments offered discounts and had a R146m increase in credit loss provision (48% of gross receivables at year-end) R58m. R185m of their receivables is a year old.
Michael Avery sat down with CEO Andries Greylingh, a man who has his fingers on the pulse of education to talk about whether parents can still afford private education in the lower end in the current environment?