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From: madrid (Rep: 0) reply to madridDate: 09/13/2017 15:06
Forum: QualityStocks - Msg #10862Thread #673939492 (Rec: 0)
Re: Idp Education. ROE 50% and Growth. Strong Results

IEL Continues To Profit From The International Education Boom

The education of international students is now Australia’s third largest export – just behind iron ore and coal. One high quality business that has successfully leveraged off this growing industry is IDP Education (ASX: IEL). IEL is a global leader in international student placement services. It recently reported their FY17 results that point to a robust business with good prospects.

While net profit growth of just 4 per cent appears pedestrian on the surface, this is largely due to a one off tax benefit that boosted the prior year figure, the impact of the rising Australian dollar as well as some one-time costs from the acquisition of Hot Courses at the end of January. When we dig below the surface, the results show continued strong momentum in the core English Testing and Student Placements businesses.

In the English Language Testing Business, volumes increased 9 per cent in the six months to June relative to the same period last year. This is despite the disruption from the demonetisation in India reducing test volumes by another 15,000 in the March quarter. Adding these test volumes back implies sustainable growth of 12.5 per cent as IDP’s share in Australia stabilised and organic growth in other markets was boosted by the entry into markets like Nepal and Japan. Importantly, volume growth in India returned to ‘pre-demonetisation’ levels in the June quarter. This points to another year of very strong test volume growth in FY18 as the business cycles the impact from FY17.

IEL & The International Education Boom - Commentary - Share Cafe



Reply to madrid - Msg #10856 - 09/11/2017 09:26

Re: Idp Education. ROE 50% and Growth. Strong Results

Go up!

http://www.google.com/finance?q=ASX%3AIEL&ei=EYu2WZiVINOQswG_y4KIAg
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