Idp Education’s Share Price Soars 21.69% Today

International education organisation and co-owner of the English language test IELTS, Idp Education Ltd [ASX:IEL] is one of the best performing stocks on the ASX today, with a sharp rise of 21.69% sitting their share price at $13.86.

The sudden jump comes as the company’s half-year financial results were released early this morning.

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What do the Idp Education’s results reveal?

It’s good news across the board for IDP.

Their PowerPoint presentation reveals a landslide of growth. The company’s revenue is up 26% at AU$304 million, they’ve experienced strong earnings growth with EBITDA up 33% at AU$66.8 million, NPATA up 32% at AU$41.8 million, and their interim dividend is up by 41%, at 12 cents per share.

Additionally, they reported their English language testing rates to be up by 16% (660,000 IELTS taken), their English language teaching up by 13% (with 45,900 courses used), student placement is up 23% (with a rate of 27,300 APFs), and their digital marketing ‘Hotcourses’ is up by 26%.

What’s next for IDP Education’s share price?

The company currently has more than 80 offices in 31 countries with 550 counsellors staffed.

Late last month, the company announced that Hotcourses Group will now join a new arm called IDP Connect.

Simon Emmett, IDP Connect’s CEO, said that the move came from the realisation that a clear and united vision of the firm was needed in order to avoid confusion with clients and the industry at large.

He said the move will help ‘university clients achieve their marketing and recruitment goals and connecting students with life-changing educational opportunities’.

With these kinds of results, it’s easy to see why traders are circling the stock. But as it’s the early days of the merger, who knows what’s around the corner….

Regards,

Ryan Clarkson-Ledward,
For Money Morning

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