Headline earnings per share fell 23% to 38.7c, or headline earnings of R160m. In the period the year before, the group had reversed a deferred tax liability of R53m.
Headline earnings is a widely used profit measure in SA, stripping out certain one-off items to give a better indication of underlying performance.
The group said in June, when schools reopened, enrollments had exceeded the previous year, but collections were under pressure.
“Although the collection of school fees has seen some improvement from a low point reached in April 2020, it is not at the same levels as before Covid-19,” the group said.
“It remains difficult to estimate the bad debt expense for the full year,” Curro said.
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