June 18, 2021
Markets

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.

Childcare enrolments dropped in 2020 as parents kept children home, or were no longer required to go into a CBD-based office every day. Credit:Getty

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…

Read full article here: www.smh.com.au