The IDP Education Ltd (ASX: IEL) share price has climbed 30% over the first half of 2017 as investors warm to the higher education group’s recent results and outlook as a higher education services business.
IDP Education’s core business is the provision of English Language Testing Services (IELTS) that students or workers take as part of work, visa, or higher education course requirements.
It also offers student placement services by finding courses suitable for students who wish to study overseas. This part of the business is growing strongly for example thanks to growing demand from Indian and Chinese students to study in destinations like Australia.
For the six-months ending December 31 2016 the group posted EBITDA of $36.4 million on revenues of $198.8 million, which represents growth of 12% and 5% over the prior corresponding half.
The company has also recently acquired a UK-based online student recruitment business named Hotcourses for around $50 million, with another small investment in a Chinese company that helps students prepare for the IELTS.
IPD shares are down 1.7% to $5.09 today, but still near a record high of $5.27 hit earlier in the week.
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Motley Fool contributor Tom Richardson has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.