Markets Live, Tuesday 19 May, 2021
Childcare centre operator G8 Education continues to ride a COVID recovery trend with occupancy improving from February to May and wage costs remaining intact.
The $850 million company – which is holding its annual general meeting today – said like-for-like occupancy across its 470 childcare centres was currently running at 70.8 per cent.
While this is still below pre-COVID levels, it is ahead of consensus and RBC estimates.
That said, RBC analyst Chami Ratnapala noted the company’s metro centres – which represent about 55 per cent of the overall network – were lagging in performance. She is confident this will improve in the coming months.
G8 owns centres across Australia and Singapore under names such as Pelicans, Jellybeans, Greenwood and…