Shares of education business Idp Education Ltd (ASX: IEL) bounced 16% on Wednesday following the release of its half year report.
Idp Education is the $1.6 billion Australian company whose services include providing IELTS tests for international students, and English language courses in Asia.
This morning, Idp Education filed its half-year results with the ASX.
Here’s the key highlights (results are compared to the same period a year earlier):
- Revenue rose 28% to $242 million
- Profit rose 27% to $30 million
- An interim dividend of 8.5 cents, fully franked, was declared
Idp Educations’ English language testing revenue rose 25% during the half, with IELTS testing volumes up strongly, the company said.
“Stand out performers were our IELTS testing business, our multi-destination student placement stream and Hotcourses, which has now been integrated into IDP,” Idp Education’s CEO Andrew Barkla said.
“Launching our first computer-delivered tests in Melbourne marked a significant milestone in the 28-year history of the test,” Barkla added.
“The IELTS partners are pleased to offer customers more choice in the test model to help them perform at their best on test day.”
Revenue from Asia, the company’s most valuable market, rose 28% to $154 million.
Idp Education shares were trading almost 18% higher at $6.83 on Tuesday afternoon.
Join Rask’s Investor Club Newsletter Today
You can join Rask’s FREE investor’s club newsletter today for all of the latest news and education on investing. Join today – it doesn’t cost a thing. BUT, you’ll need a good sense of humour and a willingness to learn.
Keep Reading
- Commbank Reports: Here’s The Key Highlights
- The Best Investors Are Dead or Female
- Is Bitcoin Going To Zero?
Disclaimer: This article contains general information only. It is no substitute for licenced financial advice and should not be relied upon. By using our website you agree to our Disclaimer & Terms of Use and Privacy Policy.
