Evolve Education warns annual profit will dip in 2018 on weaker occupancy rates

Thu, 17 Aug 2017

By Paul McBeth Aug. 17 (BusinessDesk) - Evolve Education, the early childhood education centre operator, has warned annual profit will fall as much as 12 percent in the current year on weaker-than-expected occupancy rates, spurring management to cut costs and bolster its marketing effort. The shares fell. The Auckland-based company expects net profit of between $14 million and $15 million in the year ending March 31, 2018, down from $15.9 million a year earlier, chairman Alistair Ryan told shareholders at today's annual meeting. Evolve fo...

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