Shares of IDP Education Ltd remain in freefall, now trading at 3.59 a piece. I think they are priced at just a few more cents than at the end of their first day of trading, back in November of 2015.
The Financial Review described the firm as a “dumpster fire” a few days ago, noting that former CEO Andrew Barkla “must be relieved he sold nearly everything that wasn’t nailed down when the company was in happier times.”
That may be an overstatement, but I chuckled.
I know that student placements are a bigger concern, but it could be worth looking at historic IELTS volumes:
- FY 2016: 857,000
- FY 2017: 909,800
- FY 2018: 1,141,200 (IELTS on computer re-introduced)
- FY 2019: 1,280,000
- FY 2020: 1,095,000
- FY 2021: 1,150,000
- FY 2022: 1,900,000 (IDP took over BC’s India testing)
- FY 2023: 1,930,000
- FY 2024: 1,580,000
- FY 2025: 1,264,000 to 1,295,600 (estimated)
Remember, of course, that the above numbers don’t include tests administered by the British Council.