Curro to list higher education unit separately
There has been a reshuffle at the top as a precursor to the overhaul, announced as the group posted a near-doubling of full-year profit
Curro intends unbundling its tertiary-education division into a separately listed company, it said in its results statement on Tuesday. Founder Chris van der Merwe will hand the role of CEO to chief operating officer Andries Greyling on July 1 as a precursor to the split. Van der Merwe will take the role of chairman of the tertiary-education division. Samara Totaram, previously CEO of Meridian, has taken up the position as chief financial officer of the tertiary-education company. Curro reported its revenue grew 27% to R1.76bn and after-tax profit rose 83% to R168m in the year to end-December. Its total number of learners increased 14% to 47,589 during the year. Its fastest growth was at Curro Academy, where learner numbers increased 132% to 2,163. But Meridian suffered a 6% decline in learner numbers to 9,657. The group invested R1.7bn during the reporting period, which included building nine new campuses and expanding six existing campuses. It intends investing R1.8bn in 2017. Pay...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.