Pembury targets 12 new schools as revenue rises
While private education is one of the JSE’s hottest sectors Pembury Lifestyle Group share is down 45%
Recently listed private education company Pembury Lifestyle Group (PLG) plans to open 12 schools in January 2018. In financial results released on Wednesday, the company said these schools would be housed on four campuses: PLG Greenhills Academy in Randfontein, PLG Carlswald Academy in Midrand, PLG Midview Academy and a campus on a recently acquired property in Modimolle, Limpopo. While private education is one of the JSE’s hottest sectors — as seen in the strong market ratings for large players like Advtech and Curro — PLG’s share price has fallen more than 45% since listing in late March. The half-year results to end-June showed revenue up almost 40%, to R28.8m.