After increasing fees following an uptick in childcare subsidies for parents and reducing wages, early childhood care provider G8 Education (ASX: GEM) ended CY23 on a high. The Company reported a 9.1% increase in revenue, reaching $983.4 million, alongside a 53.1% rise in Statutory NPAT to $56.1 million compared to CY22. This growth was primarily
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Australia’s childcare industry is thriving, with revenue expected to reach $17.2 billion by 2028-29, according to market researcher IBISWorld, driven by government support and extended attendance hours in 2023.
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As a new CEO, there’s usually a lot on the line—it’s probably why you’re brought in in the first place. This was a time to prove his merit for early education and care provider G8 Education’s (ASX: GEM) CEO Pejman Okhovat. And so he did with a $40 million on-market buyback, wherein the Company repurchased
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If childcare occupancy rate is an indicator that the pandemic has come to an end, then the recent announcement from G8 Education (ASX: GEM) indicates that we are one step closer. The childcare education provider reported a core occupancy rate of 77.3%, which is a 1% improvement from CY21. This brings the company closer to
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Charging an average of $131 per day across their 448 childcare clinics, parents are voting with their feet away from centres run by early education company G8 Education (ASX: GEM) which has reported a 63% decline in profits for the Half Year. For the six months ended 30 June 2022, G8 Education reported a 1.1%
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In what has to be considered a remarkable result, childcare operator Mayfield Childcare (ASX: MFD) has delivered $3.5 million in net profits despite facing an existential shortage in labour and occupancy rates dropping all over the country as the pandemic toll continues to plague the industry. For the six months ended 30 June 2022, Mayfield
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