Evolve annual profit falls 25%, matching twice downgraded guidance

Tue, 01 May 2018

By Paul McBeth May 1 (BusinessDesk) - Evolve Education Group said annual profit fell by about 25 percent, falling within its twice downgraded earnings guidance after failing to meet new enrolment targets and reaffirmed the prospect of a smaller dividend than a year earlier. The Auckland-based early childhood education group said underlying earnings were about $12 million in the 12 months ended March 31, down from $15.9 million a year earlier. That fell within Evolve's guidance for underlying profit of between $11 million and $12 million,...

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