23 May 2016

Evolve Education reports strong first full-year profit

8:31 pm on 23 May 2016

The listed early child-care provider, Evolve Education Group, has reported a solid maiden full-year profit, off the back of acquisitions and demand for its services.

Its net profit was $15.6 million in the year ended March - near its forecast.

The company listed on both sides of the Tasman in late 2014 and now has more than 100 centres.

Its chief executive, Alan Wham, said it was meeting its expectations.

"We've certainly delivered on our business model that we outlined in our prospectus - that was establish a strong portfolio of early childhood education businesses," he said.

Alan Wham said the outlook was for further growth and acquisitions this year.

Evolve Education Group will pay a final dividend of 2.38 cents per share.