IDP Education reports solid result for fiscal 2018

IDP Education Limited (ASX: IEL) has reported total revenue of $487.2 million for the twelve months to 30 June 2018. This represents an increase of 24% compared to $394.2 million revenue in FY17. Earnings before interest, tax, depreciation and amortisation (EBITDA) grew to $89 million, up 30% on FY17.

Net profit after tax of the company tremendously increased by 24% to $51.5 million, underpinned by IDP’s growth in the international education industry and significant increase of 25% in English Language Testing (IELTS) volumes due to central role of English as a key global language.

There has been solid 15% increase in student placement volumes on the back of notable 126% increase in volumes to Canada. Indian market has also been the major contributing factor in the company’s growth over the past 12 months, recording 60% increase in student placement volumes and a 58% increase in IELTS volumes. [optin-monster-shortcode id=”wxhmli4jjedneglg1trq”]

The Board of Directors of IDP Education has declared a final dividend of 6.5 cents per share, franked 60%. The dividend is payable on 27 September 2018. With the record date of 7 September 2018.

Looking into FY19, CEO Andrew Barkla stated that the roll-out of computer-delivered IELTS and the global digital platform would be in the priority list of the company.

In the recent update the company has notified that Managing Director and Chief Executive Officer of IDP Education, Andrew Barkla has sold 3,435,469 of shares in IDP Education Limited, majorly from the exercise of Mr. Barkla’s pre-IPO option.

IDP Education Limited’s stock has tumbled by 0.478% to $10.400 on 11 September 2018 (5:06 PM AEST). There has been the positive change of 83.66% in the performance of the stock over the past one year.

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