VOCATIONAL EDUCATION – AUSTRALIA

Bias against vocational training needs fixing

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Original article by Rachel Baxendale
The Australian – Page: 6 : 21-Jan-19

Former New Zealand skills minister Steven Joyce is currently reviewing the vocational education and training sector for the federal government. Submissions to his review are due by 25 January, and he is due to present his findings in March. Joyce says it has become clear to him that there is a bias against VET in Australia in favour of universities, and that he was surprised about the lack of information on VET pathways being given to school leavers.

CORPORATES
AUSTRALIA. DEPT OF EDUCATION AND TRAINING, AUSTRALIAN LABOR PARTY

Over 5 million Aussies to study in 2018

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Original article by Roy Morgan
Market Research Update – Page: Online : 26-Mar-18

A Roy Morgan Single Source survey, which was carried out in the December 2017 quarter, has found that 26.1% Australians of all ages (or 5.2 million people) intend to study or do a course in the next 12 months. Some 72.7% of 14-24 year olds (2.3 million) intend to study or do a course. However, significant proportions of older age groups are intent on furthering their education. Over a quarter of 25-34 year olds (1.06 million Australians) and over a fifth of 35-49 year olds (990,000 Australians) intend to study or do a course in the next 12 months. In addition, nearly 690,000 Australians aged 50+ intend to do so. Analysis using Roy Morgan’s Helix Personas consumer segmentation tool shows that members of the Metrotechs and Today’s Families communities are most likely to intend to study, while Aussie Achievers are least likely to be considering studying in the near future.

CORPORATES
ROY MORGAN LIMITED

$6bn vocational loan fiasco ends

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Original article by Julie Hare, Kylar Loussikian
The Australian – Page: 2 : 5-Oct-16

The Federal Government will introduce a new student loans scheme, amid revelations that the cost of the VET FEE-HELP scheme has blown out to $A6bn since it was launched in 2012. The scheme was exploited by many private vocational education providers, with many charging exorbitant fees for courses that had little prospect of leading to employment. The new Vocational Education and Training Students Loans scheme will impose stricter eligibility criteria for courses, while student loans will be capped.

CORPORATES
AUSTRALIA. DEPT OF EDUCATION AND TRAINING, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, CORNERSTONE INVESTMENTS

International student numbers soaring again

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Original article by John Ross
The Australian – Page: 21 : 22-Sep-16

International students are again showing strong interest in Australian education, with enrolments rising 11 per cent in the first seven months of 2016. Vocational education and English language courses are particularly popular. Federal Education Minister Simon Birmingham expects even stronger growth to be stimulated by the National Strategy for International Education.

CORPORATES
AUSTRALIA. DEPT OF EDUCATION AND TRAINING, VOCATION LIMITED – ASX VET, AUSTRALIAN CAREERS NETWORK LIMITED – ASX ACO, ASHLEY SERVICES GROUP LIMITED – ASX ASH, UNIVERSITY OF NEW SOUTH WALES, INTERNATIONAL EDUCATION ASSOCIATION OF AUSTRALIA

Listed education sector needs investor reassurance: Intueri

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Original article by Simon Evans
The Australian Financial Review – Page: 31 : 24-Sep-15

Australian-listed education providers have a "credibility problem" which is reflected in their share prices. Rob Facer, the CEO of Intueri Education Group, says Vocation’s problems have made investors reluctant to invest in other listed education providers. Intueri’s share price has fallen to close to $A1, from $A3 in late 2014. Facer says the stock is now undervalued.

CORPORATES
VOCATION LIMITED – ASX VET, INTUERI EDUCATION GROUP LIMITED – ASX IQE, AROWANA INTERNATIONAL LIMITED – ASX AWN, NEW ZEALAND INSTITUTE OF SPORT, ONLINE COURSES AUSTRALIA, PHOENIX ENGLISH LANGUAGE ACADEMY, AUSTRALIAN CAREERS NETWORK LIMITED – ASX ACO

Navitas flat forecast has shareholders nervous

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Original article by Yolanda Redrup
The Australian Financial Review – Page: 16 : 28-Jul-15

Listed education provider Navitas has posted a 2014-15 after-tax net profit of $A71.8m, which is 39 per cent higher than previously. CEO Rod Jones concedes that investors may have expected a higher profit, but describes it as "reasonable". EBITDA rose by 13 per cent to $A163.1, while revenue was 12 per cent higher at $A980.3m. Jones has advised that the group’s 2015-16 profit will be similar to its latest result.

CORPORATES
NAVITAS LIMITED – ASX NVT, KATANA ASSET MANAGEMENT LIMITED, MACQUARIE UNIVERSITY, STUDY OVERSEAS NOW PTY LTD, NAVITAS RESOURCES INSTITUTE, SYDNEY INSTITUTE OF BUSINESS AND TECHNOLOGY

Vocation cuts back, rebrands in survival bid

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Original article by Simon Evans
The Australian Financial Review – Page: 1 & 9 : 2-Jun-15

Australian-listed Vocation will implement a five-point plan aimed at turning around its fortunes. The vocational education provider will adopt a new business name and rebrand several of its businesses, while more than 40 of its courses will be discontinued. CEO Stewart Cummins is confident that the group will become profitable in 2015-16. Vocation currently boasts just 160 employees, with its workforce cut due to asset sales and redundancies.

CORPORATES
VOCATION LIMITED – ASX VET, CUSTOMER SERVICE INSTITUTE OF AUSTRALIA, AVANA EDUCATION PTY LTD, REAL INSTITUTE PTY LTD, BAWM GROUP PTY LTD, ASPIN PTY LTD, ENDEAVOUR COLLEGE OF NATURAL HEALTH, STUDY GROUP INTERNATIONAL, WESTPAC BANKING CORPORATION – ASX WBC, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB

Besieged Vocation crashes to $273m loss

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Original article by Simon Evans
The Australian Financial Review – Page: 18 : 3-Mar-15

Australian-listed Vocation has posted a 2014-15 interim loss of $A273m, following a loss of $A4m for the first half of 2013-14. The latest result was marred by impairment charges totalling $A241m. The vocational education provider has also been affected by a downturn in enrolments, and is seeking to offload some of its assets. Revenue rose by 9.3 per cent to $A57.7m

CORPORATES
VOCATION LIMITED – ASX VET, LEARNING VERVE PTY LTD, CUSTOMER SERVICE INSTITUTE OF AUSTRALIA, BAWM GROUP PTY LTD, ENDEAVOUR COLLEGE OF NATURAL HEALTH, AUSTRALIAN SCHOOL OF MANAGEMENT, 333 CAPITAL PTY LTD, KORDA MENTHA AND COLLEAGUES PTY LTD, LAUREATE INTERNATIONAL UNIVERSITIES

Battling Vocation in $245m write-down

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Original article by Simon Evans
The Australian Financial Review – Page: 16 : 24-Feb-15

Australian-listed education group Vocation insists that it will still be a viable business entity even after the sale of assets, which will reduce its size by two-thirds. The company’s shares resumed trading on 23 February 2015, after having been in a trading halt for five weeks. Vocation revealed that it has received more than 30 expressions of interest from potential buyers. The sale is likely to be completed in April

CORPORATES
VOCATION LIMITED – ASX VET, ENDEAVOUR COLLEGE OF NATURAL HEALTH, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, WESTPAC BANKING CORPORATION – ASX WBC

Whitford in bid to stop break-up of Vocation

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Original article by Simon Evans
The Australian Financial Review – Page: 13 & 18 : 9-Feb-15

A number of potential buyers have expressed interest in buying assets from the embattled Vocation Limited. Korda Mentha’s 333 Capital division has commenced the process of selling Vocation’s assets. However, 15 per cent stakeholder and co-founder Brett Whitford proposes to recapitalise the education provider and retain its sharemarket listing rather than divest its assets. Vocation shares remain in a trading halt

CORPORATES
VOCATION LIMITED – ASX VET, KORDA MENTHA AND COLLEAGUES PTY LTD, 333 CAPITAL PTY LTD, EVOCCA COLLEGE, CUSTOMER SERVICE INSTITUTE OF AUSTRALIA, UBS HOLDINGS PTY LTD, MACQUARIE GROUP LIMITED – ASX MQG, VICTORIA. DEPT OF EDUCATION AND EARLY CHILDHOOD DEVELOPMENT, BAWM GROUP PTY LTD, ASPIN PTY LTD, DUET GROUP – ASX DUE, NATIONAL AUSTRALIA BANK LIMITED – ASX NAB, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, WESTPAC BANKING CORPORATION – ASX WBC