IDP Education (ASX:IEL) shares gain as revenue rises 50% in FY22
Kalkine Media
Published Aug 25, 2022 23:27
IDP Education (ASX:IEL) shares gain as revenue rises 50% in FY22
- IDP Education has reported an increase of 50% in revenue in its financial year 2022 results,
- The education firm also stated its EBIT (Earnings before interest and tax) reached AU$163 million, up 127%.
- IDP in FY22, placed students into a record 55,400 courses and expanded with more than 101 IELTS centres and 29 placement offices.
Idp Education Ltd (ASX:IEL), on Thursday (25 August 2022), announced its results for the 2022 financial year (FY22). For the 12 months to 30 June 2022, the company reported total revenue of AU$793 million, a rise of 50% against the same period in FY21. Its adjusted earnings before interest and tax (EBIT) was AU$163 million, up 127% on previous corresponding period.
IDP Education shares were spotted trading 7.238% strong at AU$28.740 apiece at 12:12 PM AEST on ASX.
h2 IDP Education’s operating and financial highlights for FY22:/h2- IDP marked significant adjusted EBIT and NPAT to AU$163 million, up 127% and AU$106.6 million, up 137% respectively.
- The revenue rose 50% to AU$793 million, up 50% on FY21.
- The company holds a cash balance of AU$197 million.
- IDP announced dividend of 13.5 cps for H2 FY22, taking FY22 dividends to 27.0 cps
- The company placed students into a record 55,400 courses, with growth across all destinations.
- IDP recorded highest ever IDP IELTS testing volumes of almost 1.92 million tests, a 67% rise on FY21 levels.
- The company stared British Council’s IELTS operations in India.
- IDP expanded its geographic footprint with more than 101 new computer-delivered IELTS centres and 29 student placement offices opened across different countries.
- The company launched IELTS Online.
Share price performance of IDP Education on ASX
On ASX, IDP Education shares have gained 7.02% in last one month. In six months, the stock gained 10.44% and in one year, the shares are marginally down by 0.11%. Seeing a broader picture, in last five years, the company has gained 425% on ASX.
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Written By: Kalkine Media
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