Curro plans to have 197 schools by 2022
Curro sees itself having 197 schools by 2022, almost double the number it had in 2015.
The independent school network will add as many as 26 schools in 2019, taking its portfolio to 164 schools, 68 campuses and 57,465 learners by the end of the year, CEO Andries Greyling said in a presentation posted on the company’s website on Tuesday.
The group planned to invest R1.6bn in the business in 2019, including R220m in building new campuses and R200m on acquisitions.
But barring “significant acquisitions”, the private schools group “does not foresee the need to raise additional equity capital”, Greyling said.
The company’s balance sheet was “well-geared to fund 2019 capital expenditure — and beyond”.
In the year to end-December 2018, Curro increased headline earnings 23% to R248m. Revenue increased 19% to R2.5bn as learner numbers rose 12% to 51,305.
In 2016, then-CEO Chris van der Merwe said Curro wanted to have 200 schools and 80 campuses by 2020.