EVO announces half year results and trading update

Evolve Education Group Limited (ASX/NZX: EVO) today released their half year results and trading update, with revenue for the 6 months ended 30 June 2022 being 8% higher than the comparative period in 2021.

Profit before net finance expense and income tax was 9% lower than the comparative period in 2021 and loss after tax for the 6 months ended 30 June 2022 was $2.23m compared to loss after tax of $0.52m for the 6 months ended 30 June 2021.

Centre acquisitions across Australia and New Zealand are being pursued, and the week ended 21 August 2022 saw revenue of $1.32m in Australia and $2.23m in New Zealand.

Guidance for FY31 December 2022 has not been provided due to residual uncertainty, however due to seasonality, occupancy in Australia is expected to grow until late November.