New Zealand’s ABC Learning Centres trading Well

For immediate release – 27 February 2009

New Zealand’s ABC Learning Centres trading Well

There has been widespread interest in the purchase of ABC Developmental Learning Centres (NZ) Ltd, with a number of offers for the entire 127-centre business now being actively considered.

ABC Developmental Learning Centres (NZ) General Manager, Craig Presland says the company is pleased with both the indicative offers received and the calibre of potential buyers.

“The potential buyers are all highly credible and have significant experience in the New Zealand early childhood education sector. We are confident that any of the prospective purchasers would ensure the ongoing success of ABC Learning Centres across New Zealand.

“We are acutely aware that parents, caregivers, children and the ABC staff are all eager to know what the future holds. We can reassure them that the business is in very good heart with high occupancy levels, a sound operating model and solid profitability.

“We remain in productive negotiations with the short-listed parties and look forward to receiving final offers by March 6th,” Mr Presland said.

Despite the economic recession beginning to bite, Mr Presland says that ABC Learning Centres continue to be well supported.

“We had anticipated a drop off in re-enrolments in early 2009 as the effects of the economic situation were felt. However, occupancy at our centres remains above 83 per cent which, according to our research, is above national industry average. We put this down to the fact that more than 77 per cent of our staff are either fully qualified in early childhood education or in their final year of training which means we are able to provide a genuine, quality learning environment for our children.

“In addition, we have invested significantly over the last three years in our centre facilities, toys and resources, building refurbishments and playground upgrades.”

“Our level of occupancy is very pleasing, and a measure of the continued faith our parents and caregivers place in us to care for and educate their children. We look forward to continuing to do so,” Mr Presland said.

In addition to the 127 Learning Centres, the New Zealand College of Early Childhood Education – a pre-eminent early childhood education sector training body – is also included in the sale.

“The College is also performing very well and, given that all early childhood teachers must have either completed a Diploma in Early Childhood Education or be in their final year of training by 2012, its prospects are excellent.

“We believe that the future for quality early childhood education in New Zealand is bright. The Minister of Education, Anne Tolley has recently stated the government’s desire to make things easier for parents and service providers by getting rid of unnecessary bureaucracy and ensuring all families have access to high quality early childhood education. ABC Learning Centres looks forward to continuing to play a part in seeing that vision come to fruition,” Mr Presland said.

ENDS