The share price of Idp Education Ltd (ASX: IEL) jumped 28% after releasing its FY20 half-year result for the six months to 31 December 2019.
Idp Education's numbers
In the half-year result the company reported that total revenue increased by 20% to $379 million. Looking at some of the individual divisions, English Language Testing grew revenue by 21% to $215.3 million, Student Placement revenue increased by 35% to $122.6 million with multi-destination revenue up 63% to $68.7 million, and English Language Teaching revenue went up 23% to $16.3 million.
Gross profit rose 24% to $222.2 million and earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 53% to $106.2 million. Earnings before interest and tax (EBIT) increased 43% to $86.9 million.
Net profit after tax (NPAT) rose 35% to 57.7% and adjusted earnings per share (EPS) jumped 41% to 23.4 cents.
Management said that the strength of its diverse global business was reinforced by its strong growth in India, Canada and the UK.
Idp Education dividend
The Board of Idp Education declared an interim dividend of 16.5 cents per share, which was an increase of 37%.
Is the Idp Education share price a buy?
Idp Education is a strong-performing business. It's an attractive share, particularly because it's a strong-growth business that isn't a technology company. It has been quite volatile over the past year, yesterday would obviously have been a better time to buy. It's quite likely there will be a better price over the next 12 months.
