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Curro’s Half-Year Results – Growth In Revenue, But Learner Numbers Slip

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Guest - Cobus Loubser, Chief Executive Officer of Curro Holdings

Curro Holdings, South Africa’s leading independent school network, has released its interim results for the six months ended June 2025 – showing a mixed picture of resilience in tough market conditions. Revenue rose 4.7% to R2.7 billion, while cash generated from operations jumped over 10% to R688 million, reflecting strong financial discipline. However, earnings per share dropped 36% due to a R74 million asset impairment on vacant land earmarked for future development.

Despite these headwinds, recurring headline earnings remained stable, up 0.2%, and net debt declined by R156 million following a successful R2.4 billion debt refinancing on better terms. Learner numbers slipped 1.4% year-on-year to just under 72,000, even as fee revenue grew and ancillary income surged 10.8%.
27 Aug 2025 1PM English South Africa Business News · Investing

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