Evolve provides update as occupancy trends back to pre-COVID-19 levels

Evolve Education Group has provided a shareholder update in which it provides current occupancy levels in both New Zealand and Australia and confirms that occupancy levels are now trending back to pre-COVID-19 levels. 

 

As of the week ending 19 July 2020 occupancy across its networks was:

 

• 69.9 per cent across its 117 centres in New Zealand
• 75.6 per cent across 10 centres in Australia

 

Chris Scott, Managing Director said that the update had been prompted by “Some media reports in New Zealand had quoted sources advising occupancy levels in the early learning sector in New Zealand have fallen by up to 20% due to the effects of Covid-19” which has not been Evolve’s experience. 

 

Mr Scott went on to note that “Due to strong support from our families and centre employees, occupancy is currently trending back towards pre Covid-19 levels earlier than we had envisaged.”

 

In addition, the company has also confirmed that it will release its half year results ended 30 September 2020 on 27 November 2020 and that it’s next results release, expected in early 2021, will be for the nine months ended December 2020 reflecting the company’s transition to 31 December as their new financial year end date.  

 

To read the release please click here.