Intueri Education Group Limited
(ASX:IQE) has lowered its full year guidance saying strong revenue growth continues in its international business while domestic performance remains soft.
In New Zealand, the vocational education provider is seeing high demand for its hospitality courses. However Design and Arts enrolments are slow in Christchurch as the city continues to rebuild following an earthquake.
The acquisition of four new colleges since May last year is hitting the bottom line along with quality assurance costs.
Intueri says it now expects full year earnings to be between NZ$27 million to NZ$29 million, down from the NZ$30 million –NZ$33 million forecast earlier.
The downgrade is not expected to impact on dividends.
Intueri reported a net profit of $5 million for the 2014 financial year.
