Child Care News
Childcare waitlists up to two years: study
9News.com.au - August 30, 2018Some parents face child care waitlists of up to two years, a new report says. The Centre for Independent Studies study released on Wednesday found the supply of child cares across the country is "uneven and fragmented", with wait times of up to two years for children under the age of two...
Dutton defiant over childcare 'attacks'
9News.com.au - August 30, 2018Home Affairs Minister Peter Dutton is staring down supposed "attacks" from people questioning his eligibility to remain in parliament, saying they only make him more determined. Mr Dutton is facing continued questions about his personal financial stake in two publicly-funded Brisbane...
Sell-off puts G8 and Eclipx in buyout frame
The Australian - Bridget Carter & Scott Murdoch - August 30, 2018Private equity suitors are believed to be circling fleet-leasing business Eclipx and childcare provider G8 Education as they move to capitalise on two stocks heavily sold off due to disappointing results from reporting season. It is understood that JPMorgan, Citi and Morgan Stanley...
Amanda Rishworth MP: "What you can do if you care about early education and preschool"
Mamamia - The Hon. Amanda Rishworth MP - August 29, 2018But as the research and discussion around the importance and benefits of early education has grown in the last decade alone, it appears that access to preschool could be eroded and possibly put out of reach to those who would benefit most. Put simply, universal affordable access...
South Sudanese refugees' childcare scam could fuel African community's 'vilification': judge
ABC News - James Hancock - August 29, 2018Two refugees from South Sudan who rorted almost $1 million from the Commonwealth in a childcare scam have been jailed, with a judge saying the publicity would add to the "trauma" of a community already subject to "unjustified vilification". Rosa Riak, who became...
Australia's childcare oversupply explained
Financial Review - Simon Evans - August 29, 2018Some over-zealous property developers adopted a "build it and they will come" approach to new childcare centres in Melbourne in the past 18 months. That resulted in some opening with only a handful of customers, contributing to an industry-wide oversupply that has cut profits across...
G8 Education crunched by childcare oversupply
Financial Review - Simon Evans - August 27, 2018Australia's biggest private childcare operator G8 Education has warned that an oversupply of childcare places in the industry won't improve until at least the middle of calendar 2019 with occupancy rates at its 512 centres worsening in every state in the first six months of 2018...
G8 profit 2019: warning on earnings sends shares tumbling
The Courier Mail - Liam Walsh - August 27, 2018"UNPRECEDENTED" problems with an oversupply supply of childcare centres and regulatory change have resulted in sector giant G8 warning of more profit pain. The warning from Gold Coast-based G8 blindsided the market, and shares tumbled 36c to $2.06 as a result. The 512-centre operator...
Tougher staffing ratios for childcare centres hit G8's profit
Business News Australia - Nick Nichols - Augusut 27, 2018G8's managing director Gary Carroll describes the implementation of the government's Jobs for Families Child Care Package as the 'biggest change to the industry in recent times'. He says while underlying EBIT was hit hardest in the first quarter through the increase in staff ratios...
Meriton cuts supermarket, childcare centres and reduces unit sizes
The Daily Telegraph - Ben James - August 27, 2018Other changes to the agreed plans include scrapping a 5000 sqm supermarket and only building two of the four promised childcare centres as Meriton argues the demand is not there...
G8 Education chalks up profit fall amid childcare sector shake-up
The Australian - Samantha Bailey - August 27, 2018Childcare centre operator G8 Education has delivered a 22 per cent fall in first half net profit to $23.7 million as it adapts to changes in the sector. It comes after the company warned of slower occupancy growth in February when it announced its full year result. G8 (GEM), Australia's...
G8 Education lines up fresh debt to stave off equity
Financial Review - Sarah Thompson & Anthony Macdonald - August 27, 2018G8 Education can be crossed off equity raising watchlists; for the time being, at least. It is understood the child care centre owner has been working to secure a new syndicated debt facility, which would be big enough to fund the company's growth plans and refinance other debt due in the coming...
Labor to target Dutton's eligibility to sit in parliament
The Australian - Rosie Lewis - August 26, 2018Labor will continue its pursuit of Peter Dutton on the floor of the House of Representatives after Solicitor-General Stephen Donaghue QC could not conclusively find he was eligible to sit in federal parliament. Several of Mr Dutton's supporters said they did not think the section 44...
Dan Tehan appointed Federal Minister for Education and Training
The Standard - August 26, 2018The Federal Member for Wannon Dan Tehan has been appointed Minister for Education and Training as part of a Cabinet reshuffle announced this afternoon by new Prime Minister Scott Morrison. Mr Tehan was previously Minister for Social Services. He told The Standard the appointment...
Express yourself! Celebrity mums lead breast pump boom
The Guardian - Tess Reidy - August 26, 2018As mothers attempt to reconcile the pressures of work with the often relentless demands of breastfeeding and childcare, they are trying in growing numbers to pump milk. Last week, Goldman Sachs became perhaps the first firm in the UK to pay for breastmilk to be couriered home if female staff...
