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Private higher education group Stadio says that strong demand for its distance learning offering helped increase its profits by a quarter in its year to end-December. It's now confident about hitting its target of 56 000 students by 2026 and is forking out R220 million on a new campus in Durbanville.
Profit rose 27% to R236 million to end-December with student numbers increasing by 10% to 46 508, Stadio reported on Monday. Distance learning numbers rose 11% to 40 689 amid strong demand for professional qualifications, such as accounting, it said.
The group, which was spun out of Curro in 2017, is now SA's biggest supplier of chartered accountant candidates. It added that it was encouraging that contact students picked up 2%, having fallen 4% in the prior year, and it upped its dividend by 12% - a R85 million payout.
