G8 Says: "Things Look Great, Mate!"
The boss of Gold Coast childcare giant G8 Education has painted a positive picture at the company’s annual general meeting.
G8 Education Chief Executive Officer Pejman Okhovat said the company’s strong start to the financial year was continuing with occupancy at its centres remaining very high.
Both Mr Okhovat and chair Debra Singh touched on the company’s desire to have a “fit core”.
“Looking ahead, the Group will continue to be purpose-led and pursue its strategic objectives by focusing initially on a ‘fit core’,” said Mr. Okhovat.
Part of that strategy is the planned sale of 31 underperforming childcare centres that the company announced in October last year. While the sales have progressed more slowly than the company initially predicted, the company has so far sold 17 centres.
“To date, 17 centres have been exited, reflecting statutory EBIT after lease interest losses of $1.1 million,” said Mr. Okhovat.
He said another eight were set to be sold under a previously announced deal, while the six remaining centres were on track to be sold to other buyers.
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