Evolve Education turns to full-year profit, misses prospectus target

Sun, 22 May 2016

By Jonathan Underhill May 23 (BusinessDesk) - Evolve Education Group, the childcare operator, turned to a profit in its latest year, although earnings undershot the target in its 2014 prospectus. Profit was $15.6 million in the 12 months ended March 31, from a loss of $8.1 million a year earlier, the Auckland-based company said in a statement. Total expenses were $116.7 million, compared with a prospectus forecast of $110.8 million. Revenue jumped to $139 million, ahead of its prospectus forecast, from $32.9 million. The childcare operato...

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