The group swung into a loss as a result of writedowns in its six months to end-June, when distance learning student numbers rose by 12%
Private higher education group Stadio says its on course for achieving its ambitious student number targets in spite of the Covid-19 pandemic, which may have further increased the attractiveness of distance learning.
First semester student enrolments grew by 10% to 31,053 in the group’s six months to end-June, with distance-learning students rising by 12%.artly due to writedowns of existing brands as it shifts to a single brand under the name of Stadio. This resulted in R60m in writedowns of the value of some of the trademarks of transferred schools, such as Prestige Academy.
Stadio said it is confident in its outlook, with the Covid-19 pandemic shifting the relative attractiveness of distance learning, and it is considering further opportunities for growth, and planning to roll out new online courses and qualifications in coming months.
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