Private tertiary education provider Stadio sees 11% increase in student numbers
Private tertiary education group Stadio reported an 11 per cent increase in student numbers in the first semester of this year. The increase in student numbers to 38, 414 was mostly driven by distant learners while contact learners were lower. At its AGM held earlier today, Stadio also presented its growth plan to shareholders, targeting sustainable growth in profit of more than 20 per cent in the long-term. Chris Vorster, Chief Executive Officer, Stadio Holdings joins CNBC Africa for more.
Wed, 22 Jun 2022 11:13:05 GMT
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AI Generated Summary
- Stadio Holdings experiences an 11% rise in student numbers, driven by distant learners, amidst economic challenges and pandemic disruptions.
- The company's creative arts programs attract high demand at premium prices, emphasizing quality education and industry-ready skills.
- Stadio addresses inflationary pressures by offering affordable distance learning programs and plans strategic growth initiatives to achieve 20% profit growth.
Private tertiary education group Stadio Holdings has revealed an impressive 11% increase in student numbers during the first semester of this year, bringing the total to 38,414. The growth was primarily driven by distant learners, while contact learners saw a decline. During the annual general meeting, Chris Vorster, the Chief Executive Officer of Stadio Holdings, shared the company's ambitious growth plans with shareholders, aiming for sustainable profit growth of over 20% in the long term. This increase in student numbers comes at a challenging time for the education sector, marked by disruptions caused by the ongoing pandemic. Despite these challenges, Stadio Holdings remains optimistic about its performance. Vorster expressed his satisfaction with the 11% growth rate, considering the tough economic conditions in South Africa. He highlighted the company's success in attracting learners, particularly in the creative arts sector, where demand has surpassed expectations. Stadio's creative arts programs come at a premium price of around 90,000 per annum, justified by the top-notch equipment and training provided to ensure graduates are well-prepared for the film industry. Comparatively, Vorster noted that Stadio's pricing remains competitive within the market. In response to inflationary pressures, Stadio opted not to increase student fees for the 2022 academic year, with minimal adjustments planned for 2023 to align with inflation rates. Vorster acknowledged the financial strain faced by parents due to rising costs and emphasized the affordability of the institution's distance learning programs, offering degrees at a price range of 22,000 to 28,000 per year. These programs are designed to provide students with quality education that opens the door to further studies at public universities or international institutions. Looking ahead, Stadio Holdings is focused on achieving a 20% profit growth through the introduction of 33 new programs and expanding into underutilized campuses. By tapping into new markets, both locally and internationally, Stadio aims to capitalize on teaching and learning collaborations to drive future growth. The company's existing infrastructure and emphasis on distance learning will facilitate this expansion at minimal costs. With a strategic approach to innovation and market penetration, Stadio Holdings is poised for continued success in the competitive tertiary education landscape.