NZ's Evolve Education falls as ops struggle to recover from pandemic hit

Embark Education

08/06/2021 02:42

** Shares of Evolve Education Group  EVO.NZ  fall as much as
6.9% to NZ$0.95, their lowest levels since Nov. 6
    ** Co says NZ ops have not experienced increased occupancy
after COVID-19 
    ** Facing teacher shortages due to international border
closures - EVO
    ** Sees underlying EBITDA for FY21 between NZ$16 mln ($11.56
mln)- NZ$18.5 mln  urn:newsml:reuters.com:*:nNZSsBla
    ** Co in Feb posted underlying EBITDA of $15.7m for FY20    
    ** Expects to continue achieving material cost savings via
streamlining centre based and support office costs 
    ** Stock posts biggest intraday pct loss since Jan 5
    ** ~224,000 shares change hands vs 30-day average volume of
91,000 shares - Refinitiv data
    ** Stock down 26.6% this year, as of last close


($1 = 1.3839 New Zealand dollars)

 (Reporting by Savyata Mishra in Bengaluru)
 ((Savyata.mishra@thomsonreuters.com))