Archive | Kidicorp

Kidicorp’s ABC overhang all sold

Published 8 February 2006

ABC Learning Centres Ltd of Australian has confirmed it has sold all 10 million shares it held in Kidicorp Group Ltd.ABC acquired the shares when it bought Childcare Centres of Australia Ltd early in 2005. Childcare Centres had acquired the shares through a placement in July 2004. ABC indicated when it bought Childcare Centres it didn’t intend to retain the Kidicorp investment and has been selling down since late 2005.

It sold 2 million shares on the market in January and senior Kidicorp employees bought the remaining 3 million shares on January 31.

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Attribution: Company statement, story written by Bob Dey for this website.

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Kidicorp to take back management from Australians

Published: 25 February 2005

Listed childcare business Kidicorp Ltd will take back management of its childcare centres from Peppercorn Management Group from 31 March after “the management arrangements with Peppercorn did not meet the expectations of the parties”.

Kidicorp said Peppercorn staff in New Zealand would be re-employed by Kidicorp.Kidicorp increased the number of licensed child spaces it manages by 40% to 3000 in the past 10 months.

Peppercorn entered an agreement to manage Kidicorp’s centres last July. In December, ABC Learning Centres Ltd of Australia, which also owns & operates a number of New Zealand childcare centres, bought Peppercorn.

The listed Peppercorn Investment Fund became the Australian Education Trust in December after a restructure involving 3 Australian childcare businesses & their managers – Peppercorn, ABC & Child Care Centres Australia Ltd.

And a new Melbourne-based funds management company specialising in the property sector, BellRock Investments Ltd, took over the education trust’s management through BellRock Management Ltd. Founder & managing director Gordon Young previously headed funds management for Centro Property Group & the syndicator it acquired, MCS Property Ltd.

Mr Young’s joint venture partner is Australian Pooled Development Financing Ltd. Its investments include Sydney & Melbourne broker Austock (owner of emerging companies specialist Austock Research), Paragon Asset Management, new insurance company Trinity Life & Australia Pacific Exchange, which has an Australian financial market licence to establish a stock exchange specialising in property securities, replacing APDF’s exempt property market.

Websites: Australian Education Trust


ABC Learning Centres

Child Care Centres Australia Ltd


Australia Pacific Exchange


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Kidicorp increases ebitda from operations as it focuses on developing infrastructure

Kidicorp Group Ltd increased ebitda from childcare operations by 49% to $652,000 in the September half, on turnover up from $7 million to $12 million.

The company’s results for its first & 3rd 6-month periods as a listed company are complicated by various one-offs and the expansion of operations.

Directors said the focus on developing the company’s infrastructure should keep profitability down in the 2nd half.

Ebitda from all sources for the September half totalled $817,000, including a $165,000 profit on sale of a property which was part of an acquisition and was resold.

Ebitda for the September 2003 half was $1.129 million, including $694,000 from property sales & a non-recurring item.

Turnover rose mostly through childcare centre acquisitions.

Pretax earnings were $28,118 after $293,500 amortisation of licence goodwill. Last year pretax earnings were $388,000 after $284,000 amortisation, but also including a $391,000 non-recurring item.

Occupancy rose from 75% to 80% during the first half and should rise further in the 2nd half, directors said. Kidicorp acquired 3 Taranaki centres, amalgamated 2 in Auckland, and expanded the licensed capacity of centres in Auckland & Wellington during the 6 months.

A $6 million capital raising approved in August has been used to repay debt and buy the new centres. Kidicorp also appointed Australian company Peppercorn Management Group Ltd to manage its centres, and at the same time amalgamated all its regional subsidiaries into a single operating company.The company expects to benefit from the Government’s $307 million of extra funding over 4 years to make quality early childhood education more accessible & affordable.

Publicity had focused on the 20 hours of free education from 2007 for 3 & 4-year-olds who attend community-based centres, but Kidicorp said much of the funding was earmarked to deliver quality across the sector, particularly lifting teacher qualifications & adult:child ratios.

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Kidicorp cuts ebitda projection 30%

The directors of Kidicorp Group Ltd (chairman Richard Waddel, executive director Wayne Wright) said today ebitda (earnings before interest, tax, depreciation & amortisation for the March year was expected to be $1.4 million, well short of the $2 million projected at the August 2003 annual meeting.

It’s the group’s first year of trading as Kidicorp Group Ltd. In its first 6 months as a listed company, it turned round from a $2.95 million loss in 2002 to a $388,000 net profit in the September 2003 half.

Directors said the company expanded rapidly in the March 2004 year, primarily through the acquisition of existing Early Childhood Education centres in Auckland & Wellington.

“The assimilation of these new acquisitions into, & the development of the infrastructure of, the group has taken longer than originally expected and has resulted in a lower than projected turnover for the period.

“The largest expense being that of employment costs, which would normally be expected to vary with revenue & numbers of children enrolled, has been maintained at levels associated with the higher anticipated activity.

“This has been a necessary approach in the face of the current shortage of qualified early-learning teachers and in order to meet the upturn in enrolments the group is now experiencing.”The number of children enrolled at centres owned by the group in April is in line with budget for the period & at the highest level recorded by the group to date. The directors believe that with the development of staff & infrastructure, the group is well positioned for the 2004/05 financial year.”

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