Curro cuts dividend as expansion takes bite out of profits
The private school group has sliced 15% off its dividend as a result of higher finance costs
SA’s largest private school group Curro will cut capital expenditure by about a fifth in 2020 as SA’s largest private education group struggles to retain students in a weak economy.
Founded in 1998, Curro has been growing at a breakneck pace — the number of students has increased 15-fold since 2011 to nearly 63,000. This as middle-class and higher-income parents, frustrated with under resourced, over-crowded state run schools, splashed out on private education.